Market Notebook


Global equities moved lower along with high yield bonds while high quality bonds moved higher on the week. Virus fears coming out of China contributed to investor caution and a move out of risk assets. Given the recent run up in equities, the market remains vulnerable in the short term, to negative news.

The Conference Board’s Leading Economic Index, or LEI, decreased in December. Historically, three consecutive months of decline in LEI is an indication of continued weakness. November LEI was positive so the December reading marks only 1 consecutive month of declining LEI.

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