News & Events

The Weekly Wrap - May 13, 2022

The inflation story continued to dominate headlines and stoke volatility in the financial markets this week. For a brief time stocks flirted with a bear market, as the S&P 500 declined almost 20 percent from its nearby peak in early January, stopping just an eyelash short of that bear-delineating threshold on Thursday before rallying on Friday. Still, the index fell for the sixth consecutive week, something that hasn’t happened since 2011. The bond market fared only slightly better; the bellwether 10-year Treasury yield started the week, a touch below the three-year high of 3.20 percent reached last week, and slipped erratically below 3 percent by the end of the week.