Covenant Weekly Market Synopsis as of March 4, 2016

March 7, 2016

Global equities rallied again last week, posting 3%+ gains in most developed markets equity indices. This was the third consecutive week of equity gains, a feat that has not occurred since October 2015. While monthly gains are broadly positive, most equity indices remain in negative territory on a YTD basis. Looking a little deeper into […]

Covenant Weekly Market Synopsis as of February 26, 2016

February 26, 2016

Equities, for the most part, built on last week’s gains, advancing 0.6% – 2% in developed and frontier markets. Meanwhile, emerging markets were slightly negative on the week dragged down by a 3.5% decline in Chinese equities. US Treasuries were flat on the week, though the 10-year yield touched an intraday low of 1.65% on […]

Covenant Weekly Market Synopsis as of February 19, 2016

February 22, 2016

Like a dazed boxer after six punishing rounds on the receiving end of body blows and headshots, equity markets came out in the seventh week of the year and put on a show.  Gains were widespread with domestic indices rising between 3% – 4% and international stocks indices gaining 4% -5% for the week.  Meanwhile, […]

Covenant Weekly Market Synopsis as of February 12, 2016

February 14, 2016

In spite of an impressive rally on Friday that engendered gains of 2%-3% across most equity market indices, equities were negative on the week. The usual suspects of global growth and oil prices were picked from the line-up of investor concerns and the market deemed them guilty. What was unusual about last week is that […]

Covenant Weekly Market Synopsis as of February 5, 2016

February 8, 2016

And the beat goes on….last week equity markets slid further into negative territory for the year, though remain above their recent mid-January lows. On Friday, LinkedIn missed its Q4 earnings estimates and was summarily punished by investors. The stock plunged 43% on the day, highlighting the razor’s edge of investing in companies that are priced […]

Covenant Weekly Synopsis as of January 22, 2016

January 25, 2016

Last week was a tale of two halves, almost literally. In the first half of the week, global equities continued to slide falling 3.2% by noon on Wednesday. However, that marked the lowest point of the week as equities sharply reversed course, rallying through Friday’s close to gain nearly 4.5% and record their first positive […]

Covenant Weekly Synopsis as of January 15, 2016

January 18, 2016

It was another rough week for risk assets. Below are a sampling of headlines: · Dow Falls 391 Points, Oil Closes Below $30 for First Time in 12 Years · Cramer: Don’t bother buying, preserve your capital” · ’Much more’ selling could follow rout · It Took 7 Months to Unwind 2 Years of Global […]

Covenant Weekly Synopsis as of January 8, 2016

January 11, 2016

The New Year did not bring an end to the financial market weakness witnessed in the final days of 2015. Last week was a poor one for risk assets due to renewed concerns about the Chinese economy and a certain diminutive dictator detonating a nuclear device. Add to these problems the deteriorating political situation between […]

Covenant Weekly Synopsis as of December 24, 2015

December 28, 2015

Last week global equity markets rose in what many consider the final trading week of the year. While the markets are open this week, wedged between the Christmas and New Year’s holidays, most trading desks will operated by skeleton crews whose main responsibility is to call their bosses if a global event shocks the financial […]

Covenant Weekly Synopsis as of December 18, 2015

December 21, 2015

Wherefore art thou Santa? After an initially positive reaction to the Fed’s decision to raise interest rates and the rather dovish language that accompanied the announcement, global risk assets sold off in the back half of the week pushing equity markets further into negative territory for the month. Many had hoped that the Fed’s decision […]