Fed tees up fixed income for Jackson Hole-in-one potential

From “beat up” to “upbeat.” Following their dramatic midsummer pullback, financial markets continued to regain their footing last week. The S&P 500 Index notched its first back-to-back positive weeks since the middle of July, reclaiming the 5,600 mark. Non-U.S. equity markets also gained. In fixed income, the bellwether 10-year U.S. Treasury yield fell 8 basis points to 3.1%.