The markets, typical of their behavior for much of the year, narrowly pushed higher last week. The Nasdaq gained over three percent, while the equal-weight S&P 500 fell sixty basis points (-0.6%). This is consistent with market characteristics for most of this year – large tech companies' rapid growth masking otherwise muted broad-based returns.
For this week, I have included a piece from our partners at J.P. Morgan on the potential for fixed income under different economic and interest rate scenarios. With CPI, PPI, and retail sales all set to report this week, interest rates and fixed income will once again beat the center of investor’s minds.