– While not severe, all major asset classes declined last week.
– Another advance by Large Growth stocks was insufficient to keep every other style and factor from dragging down cap-weighted indices.
– Latin America stood out, advancing 2.8% in a week when most equity markets declined.
– Spreads between different durations of short-term Treasury Bills have been volatile over the last six weeks as debt-ceiling talks continue.

– US Equities and Commodities declined. Foreign stocks and prices on US Treasuries moved higher.
– Value stocks were hit hardest led by a 5.8% decline in Energy stocks. Technology stocks still managed to have a positive return.
– The Fed increased rates by 0.25 percent last week, it’s the 10th increase in the rate by the Fed in a little over a year.
– Yield Curve inversion worsened, becoming the second most severe inversion in over a century.