Falling Yields Spur Steady Rate Outlook

Equities returned to gains last week, due in large part to an outsized pullback in U.S. Treasury yields at month-end amid cooling economic data and an uptick in the unemployment rate on Friday. The data added hopeful evidence that the Federal Reserve may avoid having to raise interest rates at their upcoming September 19-20 policy meeting. The S&P 500 and Nasdaq Composite posted their second straight weekly gains.