Stocks stabilise but risks rise
With economic data coming in generally better than expected, equity markets stabilised and rallied last week. The Dow Jones Industrial Average gained 1.5 per cent to close at 15,136, the S&P 500 Index rose 1.6 per cent to 1,632 and the Nasdaq Composite advanced 2.2 per cent to 3,479. In bond markets, good news has meant bad news lately, and yields continued to rise (as prices correspondingly fell). For the week, the yield on the 10-year Treasury climbed 0.23 per cent to 2.72 per cent.