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Two Dividend Increases, Plus the Monthly Report

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This week markets reacted to comments from Federal Reserve Chair Janet Yellen that equity valuations are “quite high.” On top of Yellen’s comments, an upbeat U.S. service-industry release and a rally in crude oil prices sent the 10-year U.S. Treasury yield soaring to its highest level in two months, while Treasury bond prices dropped for a seventh consecutive session (bond prices fall as their yields rise). By Friday, most U.S. indexes had recovered their losses from earlier in the week, riding on the back of a better-than-expected jobs report.

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