Financial News and Portfolio Management Discussion through September 14th

US stocks posted a third straight week of gains on reduced fears over U.S./China trade.  The S&P 500 was up 1.0% and the Dow gained 1.6% for the week.  Abroad, Japan surged 3.7% and Europe rose 1.2% for the week.  The 10-year Treasury yields continued to rise as investors grew less pessimistic about US growth prospects. The yield finished the week at 1.90%, up from 1.55% at the end of the previous week, the largest one-week yield gain in over 6 years.

The ECB cut its benchmark interest rate by 0.1% to -0.5% and launched a new bond-buying package of $22 billion a month of eurozone debt that is expected to “run for as long as necessary.”  It’s the largest simulative move the central bank has made in three and a half years.

Trump announced the US would delay by two weeks tariffs set to begin 10/1 on $250 billion of Chinese imports.

China will exempt certain agricultural products from tariffs.



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