• Longer dated treasuries rose for the week, while short duration between 1-7 years fell as the debate over the Fed’s quantitative easing program continues.
• The high-yield market lost 0.68% for the week; however, it still remains up 1.54% for the year.
• On Wednesday, the FOMC July minutes revealed that the Fed’s tapering will be driven by incoming economic data and not a specific pull back date.
• Higher beta small-caps outperformed large-cap stocks, while large-cap growth outperformed large-cap value for the week.
• Exchange officials are still looking to figure out what was behind the computer glitch which caused a three hour outage at the Nasdaq on Thursday.
• For the 33rd consecutive week of inflow, U.S based equity mutual funds took in $378 million for the week.
• For the week, the best performing sectors were info tech and materials, while the worst performing sectors were telecom and consumer staples.
• For the week ending 8/23/13, the S&P 500 gained 0.46% closing at 1663.5. The MSCI EAFE Index lost -0.62% closing at 1754.53 and the MSCI EM Index dropped -2.65% to end the week at 932.76.
