• US equities rebounded from a slow start to the week as continued fears about emerging markets lead to equities having their worst single day loss in eight months. However, US equities closed the week positive, ending their streak of three consecutive weeks of losses.
• 10-year Treasury Yields rose 10 basis points during the course of the week back to 2.67% as nonfarm payrolls and ISM manufacturing came in weaker than expected.
• For January, the US ISM Manufacturing index declined more than forecast, and the new orders component reported the largest monthly drop since 1980 (62.4 to 51.2).
• US based equity mutual funds had inflows of $1.5 billion for the week to mark their fifth consecutive week of inflows.
• Large-cap stocks outperformed small-cap stocks while large-cap growth stocks outperformed large-cap value stocks.
• Consumer discretionary and materials were the best performing sectors while telecom and utilities were the worst performing sectors for the week.
• For the week ending 2/07/14, the S&P 500 gained 0.81% closing at 1797.02. The MSCI EAFE Index gained 0.75% closing at 1851.35 and the MSCI EM Index rose 0.08% to end the week at 937.3.
