This just in: CEO Chris Shuba in Financial Planning

The shortened week was relatively slow on the economic data front, but that did not make for quiet markets. Equity markets took a hit as investors attempt to grapple with the impact of rising rates, expectations moving towards a faster rise than previously thought and the impact that will have on valuations. Over the week the NASDAQ Composite fell 7.55% and S&P 500 fell 5.68% (price return) as losses were more concentrated among high-valuation tech names.

Initial jobless claims ticked up the last couple weeks to 286K, this is up from expectations of 225K and the week prior’s revised 231K.

While yields on 10-year government bonds had increased nearly 0.10 p.p. from Friday, Jan. 14 to Tuesday, Jan. 18, over the course of the entire week yields actually fell 0.03 p.p. from the Friday prior, despite the fears and turmoil over in the equity markets.

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