Wednesday 24, July 2013 by Russ Koesterich

Stocks climb to yet more record highs

From a markets perspective, the main themes last week were echoes of the previous one: Federal Reserve Chairman Ben Bernanke made statements indicating tighter monetary policy wasn’t coming as quickly as many feared; stocks rose to new record highs; and Treasury yields declined (as prices rose). The fact that these market moves occurred despite a string of relatively weak economic data confirms that investors remain focused on (and perhaps obsessed with) any hint of what the Fed will do next.

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