facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause
Stocks Rally to End Week, Month and Quarter; Bonds Mixed Thumbnail

Stocks Rally to End Week, Month and Quarter; Bonds Mixed

The Dow (+3.2%), NASDAQ (+3.4%) and NASDAQ (+3.5%) showed strong gains last week to also end the month and quarter.  Meanwhile, taxable bonds were down about 0.5%, but tax-free municipal bonds advanced about 0.2%, extending its gain streak to four consecutive weeks.  The 10-year Treasury yield remained relatively flat at 3.5%.

The only major economic news last week was the release of the Fed’s preferred measure of inflation, PCE (Personal Consumption Expenditures).  The PCE for February came in below estimates, indicating that inflation may be slowing down.  More importantly, this gave investors additional hope that the Fed may pause its rate hiking campaign at its next meeting in May.  Earlier in the week, stocks also rallied as investors seem relieved that the failure of banks does not seem to be wide spread.

Last week also marked the end of March, as well as the end of the first quarter of 2023.  During those periods, we observed a strong rally in technology stocks and extreme volatility in the bond market, as bonds eventually ended up in positive territory.  In the coming week or so, I will be preparing an economic summary and outlook, so stay tuned for that.

Michael Menninger, CFPAbout the Author: Michael Menninger, CFP®️

Michael Menninger is the founder and president of Menninger & Associates Financial Planning. With 20+ years of financial planning experience, Michael helps his clients pursue their financial goals through a hardworking, common-sense and detail-oriented approach to financial planning. He provides personalized service, builds lasting relationships, and maintains a disciplined, long-term outlook. He uses his experience and wide-ranging business and educational background as a basis for creating financial plans unique to each client's goals and aspirations.

Topics discussed and disclosures displayed in articles dated prior to November 28, 2022 reflect the requirements from previous Broker-Dealers. Please see the footer of the website for how services are currently provided.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

(610) 422-3773