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Weekly Financial Market Update - October 11, 2019

Christopher LaPorta

October 14, 2019


The thirteenth round of trade negotiations between the U.S. and China began last Thursday in Washington, marking the first discussions since July. Equities moved lower early in the week as optimism for a trade agreement dimmed ahead of the meeting. Hope for trade talk progress was renewed after reports surfaced indicating China would be open to making a partial trade deal coupled with President Trump's upbeat comments on the talks. This helped equities reverse course on Wednesday and rally 2.6% through the end of last week. The bond market also reflected renewed hopes for a trade agreement, as yields on the U.S. 10-year Treasury bond rose 0.2% this week. Bank stocks reacted strongly to higher interest rates and a steeper yield curve, helping push the S&P 500 Banks index 1.6% higher on Friday.

Learn more about last week's developments in our Weekly Financial Market Update