Capital Markets Newsletter – August 17, 2021

Equities continue to reach new heights as the S&P 500 reached 4,480 on Monday, doubling the COVID-19 low point set in March 2020. In the treasuries market, the 30- and 10-year UST remained in a slow ascent for the majority of last week but fell Friday evening due to speculation regarding an announcement of Fed bond tapering in September paired with the worst consumer confidence report in 10 years. The muni market, on the other hand, was unaffected by this news as the AAA MMD remained unchanged and investors prepare for approximately $10 billion in new volume scheduled this week.

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