Weekly Market
Update

Read about last week’s market
highlights, closing performance,
market indicators and the
week ahead.

Lather, Resolve, and Repeat

A Wake-Up Call

September 19, 2022

Globally, stocks gave back recent gains as a disappointing U.S. inflation report served as a wake-up call that central banks are likely to tighten further.

After a three-week slump, the global stock rebounded last week with the MSCI All Country World Index rising 0.8%. U.S. stocks outperformed following comments from Fed Vice Chair Brainard that acknowledged there are risks associated with overtightening financial conditions.

Wrangling Inflation in Jackson Hole

August 22, 2022

The global stock market rally took a step back last week. In the United States, the S&P 500 fell 1.2% (now down 11.3% year-to-date) while the NASDAQ dropped 2.6% (now down 18.8% year-to-date).

Slow Fashion

August 15, 2022

Another strong week for risk assets. The S&P 500 added 3.3% last week – its fourth straight week of gains. The index has now recovered half of what was lost in the first half of 2022 and stands at a year-to-date return of minus 10.2%.

Dueling Mandates

August 8, 2022

The global equity market logged its third straight week of gains with the MSCI World Index rising 0.3% - the index is now up 6.8% over the last three weeks.

Two Quarters and Eight Weeks

August 2, 2022

The global equity market continued to push higher last week with the MSCI World Index now up 6.5% over the last two weeks. In the United States, the tech-heavy NASDAQ surged 4.7% as the real 10-year Treasury yield fell sharply last week.

The Tortoise and the Hare

July 25, 2022

The global equity market staged a mild comeback last week with the MSCI World Index jumping 3.2%. In the United States, the tech-heavy NASDAQ surged 3.3% while the S&P 500 gained 2.6%.

Unacceptably High

July 18, 2022

The global equity market struggled to advance last week as investors continued to fret about recession fears. The MSCI World Index slipped 0.9% while the S&P 500 fell by 0.9% and the NADSAQ tumbled 1.6%.

Can the Fed Stick the Landing?

July 11, 2022

The global equity market has risen in two of the last three weeks with the MSCI World Index climbing 1.6% last week. In the United States, the tech-heavy NASDAQ surged 4.6% while the S&P 500 gained 1.9%.

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Important Information

An investor cannot invest directly in an index. They are shown for illustrative purposes only and do not represent the performance of any specific investment. Index returns do not include any expenses, fees or sales charges, which would lower performance.

The MSCI ACWI (All Country World Index) captures large and mid cap representation across 23 Developed Markets (DM) and 23 Emerging Markets (EM) countries. With 2,483 constituents, the index covers approximately 85% of the global investable equity opportunity set.

S&P 500 Index is an unmanaged, market value-weighted index of 500 stocks generally representative of the broad stock market. An investment cannot be made directly in a market index.

Dow Jones Industrial Average is a price-weighted index of the 30 “blue-chip” stocks and serves as a measure of the U.S. market, covering such diverse industries as financial services, technology, retail, entertainment and consumer goods. An investment cannot be made directly in a market index.

The Nasdaq composite index is a market-capitalization weighted index of more than 3,000 common equities listed on the Nasdaq stock exchange. The types of securities in the index include American depositary receipts, common stocks, real estate investment trusts (REITs) and tracking stocks.

The MSCI Europe Index captures large and mid-cap representation across 15 Developed Markets (DM) countries in Europe. With 444constituents, the index covers approximately 85% of the free float-adjusted market capitalization across the European Developed Markets equity universe.

The MSCI Japan Index is designed to measure the performance of the large and mid-cap segments of the Japanese market. With 320 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in Japan.

The MSCI Emerging Markets Index reflects performance of large and mid-cap stocks in roughly 20 emerging markets.

The Citi World Broad Investment Grade Bond index is weighted by market capitalization and includes fixed rate Treasury, government sponsored, mortgage, asset backed, and investment grade (BBB–/Baa3) issues with a maturity of one year or longer and a minimum amount outstanding of $1 billion for Treasuries, $5 billion for mortgages, and $200 million for credit, asset-backed and government-sponsored issues.

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The Euro Broad Investment-Grade Bond Index (EuroBIG) is a multi-asset benchmark for investment-grade, Euro-denominated fixed income bonds. Introduced in 1999, the EuroBIG includes government, government-sponsored, collateralized, and corporate debt. Sub-indices are available in any combination of asset class, maturity, and rating.

The Citi Emerging Market Sovereign Bond Index (ESBI) includes Brady bonds and US dollar-denominated emerging market sovereign debt issued in the global, Yankee and Eurodollar markets, excluding loans. It is composed of debt in Africa, Asia, Europe and Latin America. We classify an emerging market as a sovereign with a maximum foreign debt rating of BBB+/Baa1 by S&P or Moody's. Defaulted issues are excluded.

The US High-Yield Market Index is a US Dollar-denominated index which measures the performance of high-yield debt issued by corporations domiciled in the US or Canada. Recognized as a broad measure of the North American high-yield market, the index includes cash-pay, deferred-interest securities, and debt issued under Rule 144A in unregistered form. Sub-indices are available in any combination of industry sector, maturity, and rating.

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