The S&P 500 was down for this holiday-shortened week closing Friday at 4108. It was a jobs week with the closely watched jobs report showing U.S. hiring remained elevated in May with nonfarm payrolls coming in at 390,000, above the expected 328,000. As a result, the 10-year Treasury yield climbed above the 2.9% level. From a technical perspective, just two Fridays ago the S&P 500 stood at 3901. And in those nine subsequent trading days, weve had five days of over one percent daily moves with four being positive. Another positive was that the S&P 500 also closed this week above that psychological 4100 level. Next week is light on economic news, but on Friday we have May inflation data being reported. For TSP TIPS, we did put out a mid-week alert on Thursday. If you were able to set up your new TSP account and place the reallocation on Friday, congratulations. If not, please keep at it. I did talk to the TSP tech personnel today and besides the high-volume issues, they also had some unexpected glitches. Bottom line is that the current allocation is still good to be placed unless you hear otherwise.
The S&P 500 was down for this holiday-shortened week closing Friday at 4108. It was a jobs week with the closely watched jobs report showing U.S. hiring remained elevated in May with nonfarm payrolls coming in at 390,000, above the expected 328,000. As a result, the 10-year Treasury yield climbed above the 2.9% level. From a technical perspective, just two Fridays ago the S&P 500 stood at 3901. And in those nine subsequent trading days, weve had five days of over one percent daily moves with four being positive. Another positive was that the S&P 500 also closed this week above that psychological 4100 level. Next week is light on economic news, but on Friday we have May inflation data being reported. For TSP TIPS, we did put out a mid-week alert on Thursday. If you were able to set up your new TSP account and place the reallocation on Friday, congratulations. If not, please keep at it. I did talk to the TSP tech personnel today and besides the high-volume issues, they also had some unexpected glitches. Bottom line is that the current allocation is still good to be placed unless you hear otherwise.