Your Market Update:
- Domestic markets grind higher
- Q2 earnings reports strong in aggregate
- Ten-year Treasury yield drops again
- Inflation numbers continue to disappoint
- Plentiful earnings releases again next week
Domestic equity markets are beginning to get boring which is worrisome. The S&P 500 and the Nasdaq Composite both advanced meaningfully yet again last week; the Dow was down slightly. The price appreciation of the S&P 500 is now above 10% for the year – the Nasdaq Composite is approaching a 20% increase. The yield on the benchmark 10-year Treasury bond fell for the second week in a row and continues to trade at the low end of its recent range.