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MARKET REVIEW

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.

MARKET MUSINGS
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. 

PERSPECTIVES & PROSPECTS

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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Disclaimer: The views expressed in this newsletter are the personal opinions of the articles’ authors. They do not purport to reflect the opinions or views of The Milwaukee Company. References to the authors job titles with The Milwaukee Company is not intended to suggest that The Milwaukee Company endorses the authors’ personal points of view. The content found in this newsletter is for informational purposes only. Nothing presented in this newsletter should be regarded as investment advice or as a solicitation for the provision of investment advice or for the purchase or sale of any security or investment. Readers of this newsletter should conduct their own independent research before acting on any information found herein. To learn more please refer to our Terms & Conditions.

 






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Market Commentator · 414 N Main St · Thiensville, WI 53092-1213 · USA