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Equity markets hope to sustain a Santa rally

WILLIAM RIEGEL, CHIEF INVESTMENT OFFICER, TIAA ASSET MANAGEMENT

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December 23, 2015

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Equity and fixed-income markets

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

Bill


Article Highlights

In Europe, the broad STOXX 600 Index also got off to a good start, despite concerns that an inconclusive outcome in Spain’s general election will lead to a prolonged period of political uncertainty. Meanwhile, Japan’s Nikkei 225 Index declined but continues to be one of 2015’s best-performing markets.

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.

Consumer data highlights a mixed week for U.S. economic reports

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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