Financial News and Portfolio Management Discussion through March 18th
US Stocks rose slightly over the week as it appeared, based on Fed comments, that they would not raise rates as quickly as the market was expecting. The S&P 500 gained 0.2% and the Dow ticked up 0.1% for the week. Internationally, Europe rose 1.4%, while Japan fell 0.5% for the week. The yield on the 10 year Treasury, after reaching its highest level in over two years, fell over the week to 2.50%.
The Fed announced it was raising the Fed funds rate a quarter percentage point to between 0.75% and 1.0%. They said they still expected to make two additional quarter percentage point increases this year. The increase was made as the Fed views the US economy as being on more solid footing. The projections were less aggressive than the market had anticipated. As a result treasury yields fell. The 10 Year Treasury yield posted its largest one day drop, 0.10%, since June.
Retail sales posted their smallest gain since last summer rising just 0.1% in February.
Geert Wilders, an anti-immigration candidate in the Netherlands, failed to make inroads in the Dutch election.
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