by Connor Darrell CFA, Assistant Vice President – Head of Investments
Global equity markets recorded another solid weekly gain as momentum from the announcement of a “phase one” trade deal between the U.S. and China continued to bolster investor sentiment. The gains helped push some U.S. indices further into record territory just in time for the holidays, a stark contrast from the state of markets during last year’s festive season. Markets also appeared to react positively to some healthy economic signals, which showed an increase in personal income and spending, as well as some healthy housing data; all of which bode well for the U.S. consumer continuing to support the economic expansion. Bond yields climbed a bit higher in response to the evidence of a solidifying economic backdrop, which led to small losses for bond investors.