Yesterday the S&P 500 rose 0.3% to 2,728 after falling as much as much as 0.4% earlier in the day. The Nasdaq composite closed up 0.6% at 7,372. (CNBC)
The meaningful rise in yields from recent lows in September represent a healthy repricing of economic fundamentals, meaning yields are unlikely to return to those depressed levels. Higher levels of growth and inflation (domestically and globally), in addition to a more aggressive Federal Reserve, are fundamental reasons why higher yields are warranted. (LPL)
Domestic stock funds saw investors withdraw $41.1 billion during February according to TrimTabs. Outflows were evenly distributed between exchange-traded funds (-$19.6 billion) and mutual funds (-$21.5 billion). Global funds went in the other direction, attracting $17.9 billion.
Lego's sales fell in 2017 for the first time since 2004 as the Danish toymaker cleared excess inventories and struggled
with tough retail markets in Europe and North America. (Reuters)
The Commerce Department said new orders for U.S.-made goods in fell 1.4%. The largest drop since July 2017.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.
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