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US stocks continued to rebound this week. The S&P 500 Index posted a strong 2.6% return for the five trading days through Friday, March 12, leaving the index at a record close. The gain marks the benchmark’s best weekly rally in over a month. The Nasdaq Composite Index also rose sharply, adding 3.1% this week, following three straight weekly declines. Meanwhile, small-cap stocks left the rest of the market in the dust: the Russell 2000 Index surged 7.3% this week. In the bond market, interest rates continue to push higher. The 10-year Treasury yield rose to 1.64% -- highest since January 2020. Crude oil pulled back slightly for the week, but the U.S. benchmark – West Texas Intermediate – remained close to its highest level since late-2018 – nearly $79 a barrel.

The Great Bubble Debate
By: Andrew Willms, Founder & CEO

The ongoing stock market rally is about to celebrate its first birthday off the coronavirus bottom and it’s still going strong. U.S. stocks, however, are expensive, especially in comparison to the rest of the world. The high prices investors are paying for stocks has led to many of my clients to ask: (i) are we in a market bubble, and if so (ii) when will it burst? Let’s consider both questions. Read more. 


US Interest Rates Are Rising In Relative Terms Too

By: Jim Picerno, Director of Analytics

The rise in US interest rates is refocusing minds and prompting attitude adjustments the world over, but most of the attention has been on the absolute increases in yields. To understand the changes on a deeper level, from a global perspective, it’s necessary to consider the relative shift too. Read more. 

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