Market Perspectives (September 2013)
- Equities pulled back in August as investors took a risk-off approach amid uncertainty surrounding the Fed’s anticipated “tapering” and the potential for U.S. military intervention in Syria.
- The recent rise in interest rates continued during the month, leading to a dip in prices for most bond market sectors.
- Headline inflation edged higher in July, but the 12-month trend remains below the Fed’s target.
- The employment situation fell short of expectations with modest job creation in August following a sharp revision to prior month’s data. The unemployment rate dipped to 7.3%, as the labor force participation rate declined again.
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