While the economic landscape is not ideal, as long as the United States stays out of recession, the environment should be decent for both stocks and credit-related fixed income sectors.
-Russ Koesterich, global chief investment strategist, Blackrock
Stocks Strong Start to 2013 Persists
Thanks to solid earnings, some decent (if mixed) economic news and indications that the debt ceiling debate may be delayed slightly, stocks posted additional gains last week, continuing their strong start to 2013. For the week, the Dow Jones Industrial Average climbed 1.2% to 13,649, the S&P 500 Index advanced 1.0% to 1,485 and the Nasdaq Composite rose 0.3% to 3,134. Bonds have remained relatively steady, with the 10-year US Treasury closing the week at a yield of 1.84%, two one-hundredths lower than the previous Friday close.