- Shares in AAPL continued their meteoric rise as they approach their share split. AAPL now trades at $503.53 at market close August 24th, 2020.
- The SP500 traded 1% above last week’s level, closing at 3,400 points last Friday
- President Trump held a press conference to announce a COVID-19 treatment at 5pm on Sunday, sending US futures higher at the open. Experts expressed skepticism at the studies used to support the new treatment.
- German bond yields edged slightly lower on both record supply and record demand.
- US 10Y treasury yields also drifted lower after mixed economic news. Bond prices are inverse to their yields
- The Fed signaled willingness to let inflation run above its 2% target before raising rates. This is a break from previous Fed policy or pre-emptively raising rates before inflation jumped.
- Gold continued its recent selloff, shedding 5% over the past week. Gold rises in value during risk off events and loses value during risk on events.