August 2014 Commentary

August 2014 was an amazing month. The S&P 500 had its inaugural close above 2000, which also made it the best August return since its 6.1% gain in August 2000. This all happens 16.5 years after hitting the 1000 mark, and at a time when 10-year US treasury yields closed the month at 2.34%, below 'pre-Bernanke tapering' levels, and when German 10-year Bunds closed the month at 0.89%. In Canada, the month-long flight to bank shares ended with messy and less than stellar fiscal Q3 numbers despite record headline EPS...

Emma Querengesser