In Focus
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Week InReview: September 13, 2024
S&P 500 stages a $1.3 trillion rally. Optimism abounds | A rally that added over $1.3 trillion to the S&P 500 this week powered ahead as the latest economic data did little to alter bets on a series of Federal Reserve rate cuts. Every major group in the US equity gauge rose Thursday, while Treasuries saw small moves. Swap contracts priced in slightly higher odds of a half-point Fed reduction next week after a Wall Street Journal report said policymakers were considering cutting by 25 or 50 basis points. German bunds snapped a seven-day winning streak after the European Central Bank’s Christine Lagarde said rates would be sufficiently restrictive after an expected quarter-point interest rate cut.
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Week InAdvance: September 9, 2024
Mon Sep 9 UN's IAEA board meets. Apple's annual product launch. | Tue Sep 10 79th UNGA opens in New York City. China's NPC standing committee meets. | Wed Sep 11 US CPI. Belt and Road summit in Hong Kong. 23rd anniversary of 9/11 Al-Qaeda terrorist attacks. | Thu Sep 12 ECB interest rate decision. Beijing Xiangshan Forum. London Fashion Week begins. | Fri Sep 13 Informal Eurogroup meeting in Budapest. NATO military chiefs meet in Prague. | Sun Sep 15 76th Emmy Awards.
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Week InReview: September 6, 2024
All eyes on much-awaited US jobs report. Jobs wait | The wait is almost over for US jobs data that will be key to the Federal Reserve’s decision to cut interest rates. Ahead of Friday’s release, the S&P 500 Index and two-year Treasury yields — among the most sensitive to policy expectations — fell in tandem for a third straight day. The nonfarm payrolls figures are expected to show that hiring and wage growth picked up in August. They will come after a private report from ADP on Thursday showed that the US added the fewest jobs since 2021. While the private figures have been a poor prognosticator of payrolls in recent years, the correlation between the two data sets has been improving.
Upcoming Events
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18Sep
CMBS Council Industry Update
4:00 PM to 4:15 PM EDT
Our Clients, Our Markets, Our Purpose
The Association of Institutional INVESTORS is an organization of the oldest, largest, and most trusted federally registered investment advisers in the United States. All our members have a fiduciary duty to put their clients' interests first. Put simply, it's not our money. Our members' clients include companies and labor unions, public and private pension plans, mutual funds and 401Ks, and individuals and families who depend on our firms to help them provide for their retirements, to have funds available to educate their family members, to meet other obligations, and to support their financial aspirations. Collectively, the Association's members manage investments for more than 80,000 ERISA pension plans, 401Ks, and mutual funds on behalf of more than 100 million American workers and retirees.Our financial markets connect companies to investors and borrowers to lenders to help corporations create jobs, cities and states build needed roads, bridges, and schools, families finance homes and cars, and pension plans at all levels meet their obligations. These markets allow thousands of organizations and millions of individuals to invest in America, sharing in the success of our nation's businesses and maintaining a stake in the strength of cities, counties, states, and our country.
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