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Overview: Last week began on a high note, with strong economic data out of China setting the stage for a positive week in the global markets. Stocks around the world were higher on the week, led by emerging markets (MSCI EM +2.5%), domestic (S&P 500 +2.1%) and international developed (MSCI EAFE +2.0%). Markets were encouraged by solid U.S. economic data and signs of progress in U.S.-China trade negotiations. A stronger-than-expected jobs report on Friday rounded out a strong week. Bond yields rose, with the 2-year and 10-year Treasuries both increasing around 0.1% for the week. The taxable Aggregate and Municipal indices were down 0.3% for the week, but are still up about 2.6% year-to-date.

This week: The economic calendar is chock-full this week highlighted by minutes from the latest Federal Reserve meeting and by reports on CPI and PPI mid-week. Volatility remains low as investors look forward to the next round of earnings reports, and evaluate reduced expectations for revenue and earnings growth. Earnings season kicks off with key reports from the financial sector. Friday will be headlined by JP Morgan and Wells Fargo earnings, with Citibank and Bank of America reporting early next week.

This communication is for informational purposes only. It is not intended as investment advice or an offer or solicitation for the purchase or sale of any financial instrument.

Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results.