Italy’s Prime Minister Announced He Would Resign

Financial News and Portfolio Management Discussion through December 10th

US Stocks had their best week since the election posting fresh all time highs as the post election rally continued. The S&P 500 gained 3.1% while the Dow rose % for the week.  Internationally, Europe rose 4.7% and Japan was up 1.2% for the week.  The yield on the 10 year Treasury edged up 0.07% ending the week yielding 2.47%; the highest level since September 2014.

At the conclusion of its meeting the ECB announced it would extend its bond buying program from March until the end of next year but surprised markets by cutting back the monthly purchases from $80 billion Euros to $60 billion Euros.

Italy’s Prime Minister announced he would resign as the vote to overhaul the country’s government was rejected by voters. The resignation opens up Italy to possibly be led by a populist political party which could impact Italy’s membership in the EU.

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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