Overview: Last week began on a high note, with strong economic data out of China setting the stage for a positive week in the global markets. Stocks around the world were higher on the week, led by emerging markets (MSCI EM +2.5%), domestic (S&P 500 +2.1%) and international developed (MSCI EAFE +2.0%). Markets were encouraged by solid U.S. economic data and signs of progress in U.S.-China trade negotiations. A stronger-than-expected jobs report on Friday rounded out a strong week. Bond yields rose, with the 2-year and 10-year Treasuries both increasing around 0.1% for the week. The taxable Aggregate and Municipal indices were down 0.3% for the week, but are still up about 2.6% year-to-date.
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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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