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The Weekly Market Snapshot from Frazier Allen for the week of December 30th, 2012

Posted By Frazier Allen On Sunday, December 30, 2012 @ 6:00 pm In Business | No Comments

Weekly Market Snapshot

Market Commentary by Scott J. Brown, Ph.D., Chief Economist

Scott J. Brown Ph.D., Chief Economist Raymond James Investment ServicesNext week, the ISM manufacturing data and the December Employment Report will be important, helping to set the near-term economic outlook (beyond the fiscal cliff).

Seasonal adjustment can be tricky in December, but we should see a moderately strong gain in nonfarm payrolls.

The unemployment rate is expected to be flat or slightly higher.

Congress returns and we may see some leadership changes in the House.

Indices

  Last Last Week YTD return %
DJIA 13096.31 13311.72 6.59%
NASDAQ 2985.91 3050.39 14.24%
S&P 500 1418.10 1443.69 12.28%
MSCI EAFE 1609.75 1616.95 15.52%
Russell 2000 837.40 852.49 12.41%

Consumer Money Rates

  Last 1-year ago
Prime Rate 3.25 3.25
Fed Funds 0.17 0.07
30-year mortgage 3.37 3.95

Currencies

  Last 1-year ago
Dollars per British Pound 1.607 1.566
Dollars per Euro 1.321 1.307
Japanese Yen per Dollar 85.980 77.830
Canadian Dollars per Dollar 0.995 1.020
Mexican Peso per Dollar 13.023 14.039

Commodities

  Last 1-year ago
Crude Oil 90.87 101.34
Gold 1663.05 1590.64

Bond Rates

  Last 1-month ago
2-year treasury 0.26 0.25
10-year treasury 1.71 1.62
10-year municipal (TEY) 2.69 2.67

Treasury Yield Curve – 12/28/2012

Treasury Yield Curve – 12/28/2012 [1]

S&P Sector Performance (YTD) – 12/28/2012

S&P Sector Performance (YTD) – 12/28/2012 [2]

Economic Calendar

December 31st

 —

New Year’s Eve (bond market closes early)
January 1st

 —

New Year’s Holiday (markets closed)
January 2nd

 —

ISM Manufacturing Index (December)
January 3rd

 —

ADP Payroll Estimate (December)
FOMC Minutes (December 11th-12th)
Motor Vehicle Sales (December)
January 4th

 —

Employment Report (December)
January 15th

 —

Producer Price Index (December)
Retail Sales (December)
January 16th

 —

Consumer Price Index (December)
Industrial Production (December)
Fed Beige Book
January 21st

 —

MLK, Jr. Holiday (markets closed)
January 30th

 —

FOMC Policy Decision (no Bernanke press briefing)

Important Disclosures

Past performance is not a guarantee of future results. There are special risks involved with global investing related to market and currency fluctuations, economic and political instability, and different financial accounting standards. The above material has been obtained from sources considered reliable, but we do not guarantee that it is accurate or complete. There is no assurance that any trends mentioned will continue in the future. While interest on municipal bonds is generally exempt from federal income tax, it may be subject to the federal alternative minimum tax, state or local taxes. In addition, certain municipal bonds (such as Build America Bonds) are issued without a federal tax exemption, which subjects the related interest income to federal income tax. Investing involves risk and investors may incur a profit or a loss.

US government bonds and treasury bills are guaranteed by the US government and, if held to maturity, offer a fixed rate of return and guaranteed principal value. US government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Treasury bills are certificates reflecting short-term (less than one year) obligations of the US government.

Commodities trading is generally considered speculative because of the significant potential for investment loss. Markets for commodities are likely to be volatile and there may be sharp price fluctuations even during periods when prices overall are rising. Specific sector investing can be subject to different and greater risks than more diversified investments.

Tax Equiv Muni yields (TEY) assume a 35% tax rate on triple-A rated, tax-exempt insured revenue bonds.

[4]Material prepared by Raymond James for use by its financial advisors.

The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Data source: Bloomberg, as of close of business December 27th, 2012.

©2012 Raymond James Financial Services, Inc. member FINRA [5] / SIPC [6].


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