Stocks Adjust to Higher Yields

The headline story this week has been the downturn in global equity markets. The S&P500 has fallen about 6% this past week, the biggest five-day loss since February. A bond market rout was the cause then, and it was behind the move in recent days too, as equities re-price to reflect the higher yield environment.…

US Growth Remains on Track

This past week’s economic reports largely came in close to expectations and suggest third quarter real GDP growth will rise close to our expectations of a solid 3.1% annual rate. Most of the key economic data came at the end of the week. Retail sales data came in a bit light, rising just 0.1%, but…