Capital Markets Newsletter – July 27, 2021

Last week, equities continued to soar as The Dow closed above 35,000 for the first time on Friday, July 23rd. The S&P and Nasdaq also finished the week strong; both up nearly 4% on the week. This substantial increase can largely be accredited to the ample amount of big tech companies releasing earning reports this week. Treasury yields increased slightly by the weeks end with the 10-year UST closing at 1.29 and the 30-year UST at 1.93, both up at approximately 10 BPs on the week, but opening lower Monday morning due to uncertainty from the upcoming 2-day FOMC meeting. Meanwhile, municipal yields continue to grind lower as demand increases with a total of $8.65 billion in sales by the end of last week

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