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Two Dividend Increases, Plus the Monthly Report

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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