The Long and Short of it, week ending 28 May 2021

Publication Type: Market Commentaries

All three major indexes moved higher last week, downplaying inflation concerns and instead
focusing on continued post-Covid economic growth. An as-expected GDP release, soaring house
prices and a historically high PCE release had little negative effect on stock markets and actually
resulted in 10-year U.S. Treasury rates falling 5bps on the week. President Biden’s $6 trillion budget
proposal released Friday also had little effect on markets. At week’s end, the S&P 500 Index
increased 1.2% to 4,204.11, the Nasdaq Composite Index increased 2.1% to 13,748.74, the Dow
Jones Industrial Average rose 0.9% to 34,529.45, the 10-year U.S. Treasury rate fell 5bps to 1.58%
and the U.S. dollar (as measured by the ICE U.S. Dollar index - DXY) was unchanged.


For More Detail read the following PDF.

The Long and Short of it, week ending 28 May 2021

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