With so many central banks pursuing ultra easy monetary policies, it is quite evident that policymakers are trying to pursue (or prevent) a "competitive currency devaluation" strategy.
-Mark Luschini, chief investment strategist, Janney Montgomery Scott LLC
HEADLINES SUMMARY: Stocks fell more than 1% last week on mixed U.S. economic data and concern
over Spain's finances. The market's second consecutive weekly drop marked the end of a strong
third quarter, with equities returning a solid 6%. The benchmark 10-year Treasury note's yield
traded at 1.63% Friday, down from 1.75% the previous week. QE3, Operation Twist and global
economic growth concerns are maintaining a bid for Treasuries.
What Is Ahead: The September employment report, a critical measure of the economy's health, is
issued on Friday. The Institute for Supply Management issues its September manufacturing and
service sector indexes this week.