WILLIAM RIEGEL, CHIEF INVESTMENT OFFICER, TIAA ASSET MANAGEMENT
December 23, 2015
Equity markets began the holiday-shortened week in mixed fashion. Amid seasonally light trading, the S&P 500 Index climbed back into positive territory for the year to date through December 22, as investors appeared to be positioning for a so-called “Santa rally”—a rise in stock prices that is often observed in the week between Christmas and New Year’s.
William Riegel, Chief Investment Officer, TIAA Investments
In fixed-income markets, the yield on the bellwether 10-year U.S. Treasury rose amid a slight rebound in oil prices. For most of December, the 10-year yield has traded between 2.20% and 2.30%. High-yield bonds posted a modest gain to start the week.
Current updates are available here.
A number of U.S. economic reports were released in the days leading up to Christmas.
Another abbreviated edition of the Weekly Market Update will be published on December 30, with our normal schedule set to resume on Friday, January 8, 2016.
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Foreign stock market returns are stated in U.S. dollars unless noted otherwise.
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