
The week continued with even greater gains Thursday and losses Friday
The major markets closed last week with mixed gains in the Nasdaq, S&P 500 and the MSCI World Index. Meanwhile, the Dow Jones Industrial average and the MSCI Emerging Markets index closed out the week lower. Market Analysts waited with expectation and trepidation ahead of the midweek FOMC meeting. The expectation going into the week was that the Fed would raise the Fed Funds rates by 25 basis points after a year filled with 75 and 50 basis point increases. This placed the Fed Funds Rate at 4.5 to 4.75% and took interest rates to their highest level since the fall of 2007. While these rates feel high relative to the trailing 5 and 10-year averages, this places the Target range right around the historical average of 4.6%, dating back to 1954. The week continued with even greater gains Thursday and losses Friday which bookended the week’s daily sessions. Despite the increase in the Fed Funds Rates, Treasuries remained effectively unchanged from the prior week. The various bond indices also remained fairly stable with the noteworthy gains in the high yield segments. Contact us today to learn more about how we can help you. www.leapwealth.com