HK Financial Services Market Recap for Week Ending 2/15/19
Overview: Stocks around the globe were higher last week, driven by U.S.-China trade optimism and the avoidance of another partial government shutdown. The S&P 500 was up 2.6%, and international developed stocks were 1.4% higher on the week, despite weak growth data from Germany and continued turmoil around Brexit. WTI crude oil closed higher at $55.59 per barrel, up 20% for the year-to-date. Oil has rallied on the prospects of rising Chinese imports and expectations of continued OPEC supply cuts. In bonds, 10-Year Treasury yields were about 4 basis points higher on the week, and yields are now about where they started the year 2019.
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Provided by Ivan Gruhl, Chief Investment Officer, HK Financial Services. Sources: Bloomberg, Pac Global, Goldman Sachs Asset Management (data). Investment advisory services offered through HK Financial Services (HKFS), an Independent Registered Investment Advisor. Commission-based securities products are sold by ProEquities registered representatives and offered through ProEquities, Inc., a Registered Broker-Dealer and member of FINRA and SIPC. Insurance products issued by many highly rated carriers. HKFS, ProEquities and Boyum Barenscheer, PLLP are independent of each other.
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