Global stock prices rallied over the final three days of last week, as investors gave the soft U.S. jobs report for January a pass, probably due to the poor weather that most of us have experienced so far in 2014. Follow the link below to our review of the past week’s action.
For the most part, global stocks traded lower in the final week of January, making the month the worst for the Dow (-5.3%) and S&P 500 (-3.6%) since May 2012. Concerns that the Fed’s tapering of its bond buying will have an outsize impact on emerging market economies roiled markets for stocks and currencies around the globe. For our take on things, follow the link below.
Last week ended on a sour note for global stock markets, with Thursday-Friday declines on the order of 3%-4% virtually everywhere. Triggered by an HSBC report of a decline in China’s manufacturing sector, some emerging market currencies were even weaker than share prices, and yield spreads widened as investors focused on an element given short shrift for much of 2013 – risk. Follow the link below for our markets review.