Market developments
Equities: Global equity markets finished the week nearly flat despite ongoing geopolitical tensions in the Middle East. The S&P 500 and S&P/TSX both ended close to unchanged as investors weighed concerns about the Middle East tensions against relatively stable economic conditions.
Fixed Income: The Federal Reserve left the federal funds rate unchanged at 4.25% – 4.50% for a fourth consecutive meeting. Bond markets posted modest gains, with the Canada Aggregate returning 0.3% and the U.S. Aggregate gaining 0.2% for the week.
Commodities: Oil prices experienced volatility throughout the week but closed at US$74.9, driven primarily by geopolitical developments in the Middle East.
