The SP500 hit new highs this week as we enter the longest bull run in market history, as defined by a period without a market correction greater than 20%.
Despite the equity market strength and the confirmation we received from the Jackson Hole summit that rates hikes we continue, the US yield curve continued to flatten on the weakness of long term growth rates. The 2-10 Spread has continues to tighten. On the other hand, rates in Germany and the UK increased.
This led to an overall decline in the dollar on the week.