International index is MSCI EAFE index. Bond data reflect net change in yield, not price. Indices are unmanaged and you cannot directly invest in an index.
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Market Wrap
Accidents and fear contributed to a generally bearish week on Wall Street and global financial markets. Major U.S. benchmarks tumbled 5% to 9%, led lower by economically sensitive small-cap shares on the Russell 2000. Foreign shares fared even worse, down a stunning 10.3% on festering concerns that Greece's financial turmoil could spread through Europe and possibly around the world. Investors fled to the relative safety of the dollar and Treasury debt, pushing bond yields sharply lower. For more on recent trading activity, please read:
http://www.msnbc.msn.com/id/37014909/
Greece Finally Boils Over
After months of increasing worry, the situation in Greece turned viral this week, spreading throughout the Mediterranean, the euro zone, and global markets. The prospect that a bailout would fail and Greece would default on its next debt payment drove investors away from all forms of risk. As a result, foreign markets were pushed to the lowest levels in months while the euro and other currencies retreated from the dollar. This, in turn, put pressure on commodities and commodity-producing nations, setting up a grim feedback loop. For more on the Greek situation and what it could entail, please read:
http://voices.washingtonpost.com/ezra-klein/2010/05/greece_is_like_bear_stearns_
bu.html
Best Payroll Gains In Four Years
April's employment report gave investors some much-needed confirmation that whatever happens in Athens or Beijing, the U.S. economy still seems to be slowly pulling out of its doldrums. U.S. companies hired a net 290,000 people in April, more than in any month since 2006, which translated into a year-to-date gain of 573,000 new jobs. Although the payroll expansion was welcome, the unemployment rate still edged higher (to 9.9%) as formerly discouraged people returned to the job market. For more on the story in a long-term context, please read:
http://money.cnn.com/2010/05/07/news/economy/jobs_april |
