Market Commentary by Scott J. Brown, Ph.D., Chief Economist
Next week, the important economic data bunch up at the end of the week. Retail sales are likely to have been lackluster-to-moderate in May.
Industrial production figures should remain soft, reflecting general weakness in the manufacturing sector.
None of the reports is expected to suggest a removal of monetary policy accommodation anytime soon.
Indices
| Â | Last | Last Week | YTD return % |
| DJIA | 15040.62 | 15324.53 | 14.78% |
| NASDAQ | 3424.05 | 3491.30 | 13.40% |
| S&P 500 | 1622.56 | 1654.41 | 13.77% |
| MSCI EAFE | 1669.61 | 1723.19 | 4.09% |
| Russell 2000 | 979.46 | 994.43 | 15.32% |
Consumer Money Rates
| Â | Last | 1-year ago |
| Prime Rate | 3.25 | 3.25 |
| Fed Funds | 0.09 | 0.16 |
| 30-year mortgage | 3.91 | 3.67 |
Currencies
| Â | Last | 1-year ago |
| Dollars per British Pound | 1.562 | 1.548 |
| Dollars per Euro | 1.325 | 1.256 |
| Japanese Yen per Dollar | 96.630 | 79.130 |
| Canadian Dollars per Dollar | 1.025 | 1.029 |
| Mexican Peso per Dollar | 12.894 | 14.081 |
Commodities
| Â | Last | 1-year ago |
| Crude Oil | 94.76 | 85.02 |
| Gold | 1416.65 | 1634.81 |
Bond Rates
| Â | Last | 1-month ago |
| 2-year treasury | 0.29 | 0.25 |
| 10-year treasury | 2.15 | 1.98 |
| 10-year municipal (TEY) | 3.45 | 2.92 |
Treasury Yield Curve – 06/07/2013
S&P Sector Performance (YTD) – 06/07/2013
Economic Calendar
| June 13th |
 — |
Jobless Claims (week ending June 8th) Retail Sales (May) |
| June 14th |
 — |
Producer Price Index (May) Industrial Production (May) Consumer Sentiment (mid-June) |
| June 18th |
 — |
Consumer Price Index (May) Building Permits, Housing Starts (May) |
| June 19th |
 — |
FOMC Policy Decision, Bernanke Press Briefing |
| June 25th |
 — |
Durable Goods Orders (May) Consumer Confidence (June) |
| July 4th |
 — |
Independence Day Holiday (markets closed) |
| July 5th |
 — |
Employment Report (June) |
| July 31st |
 — |
Real GDP (advance 2Q13 + comprehensive revisions) FOMC Policy Decision (no press briefing) |
Important Disclosures
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.
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 May 31st, 2013.
©2013 Raymond James Financial Services, Inc. member FINRA / SIPC.
