Weekly Commentary: Just The Facts

2025-06-30 06:53:00 ET

For the Week:

The S&P 500 jumped 3.4% (up 5.0% y-t-d), and the Dow rose 3.8% (up 3.0%). The Utilities increased 1.1% (up 7.4%). The Banks surged 5.6% (up 8.8%), and the Broker/Dealers jumped 4.6% (up 20.9%). The Transports advanced 4.9% (down 2.5%). The S&P 400 Midcaps gained 2.6% (down 0.6%), and the small-cap Russell 2000 rose 3.0% (down 2.6%). The Nasdaq 100 jumped 4.2% (7.2%). The Semiconductors surged 6.4% (up 11.3%). The Biotechs increased 1.1% (down 2.8%). With bullion down $94, the HUI gold index dropped 3.5% (up 47.7%).

Three-month Treasury bill rates ended the week at 4.1925%. Two-year government yields dropped 16 bps to 3.45% (down 49bps y-t-d). Five-year T-note yields fell 13 bps to 3.83% (down 55bps). Ten-year Treasury yields declined 10 bps to 4.28% (down 29bps). Long bond yields dipped six bps to 4.84% (up 5bps). Benchmark Fannie Mae MBS yields sank 17 bps to 5.52% (down 32bps)....

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