Greece’s Government Reached Agreement with European Creditors

Financial News and Portfolio Management Discussion through February 21st

US Stocks closed at a record high to end the week on the news of the Greece bailout extension.  The S&P 500 rose 0.6% and the Dow gained 0.7% for the week.  Internationally, Europe was up 1.4% and Japan jumped 2.3%.  The 10 year Treasury yield rose over the week to finish at 2.14%.  After advancing earlier in the month oil eased to $50.34 a barrel.

Greece flag
Photo courtesy of http://www.cnbc.com

Greece’s government was able to reach an agreement with its European creditors to extend its bailout deal for four months. The deal avoids the February 28th deadline where the bailout would have run out.

Minutes from the Fed’s January meeting show the group still plans to be patient with raising interest rates with the majority wanting to act later, but the timing of a rate increase and how to do it were primary topics at the meeting.

Reposted from the Raffa Wealth Management Blog.

All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC

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