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Weekly TSP Wrap-up from TSP Talk

Happy Memorial Day

For the week, the C-fund added 0.22%, the S-fund gained 2.19%, and the I-fund slipped 0.12%. Bonds (F-fund) lost 0.46%, and the G-fund added 0.09%.


For the month, the losses were large in May. The C-fund lost 7.99%, the S-fund dropped 7.51%, and the I-fund plumetted 11.2%. The F-fund added 0.35% in May and the G-fund was up 0.28%.
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The main news item today, and perhaps the catalyst that held the most sway over the market, was Fitch's downgrade of Spain's debt to AA+ from AAA. It wasn't a surprise, but that didn't stop some market participants from selling. Volume was actually higher than yesterday, which was unusal for pre-holiday trading.

On the market data front, personal income for April increased 0.4%, but personal spending was flat. Core personal consumption bumped up 0.1%, which was expected. Also, the ...

It was certainly a rewarding day for the bulls as the major indexes began with a large gap higher at the open and never looked back, eventually closing at the high of the day.

Of course we have to assign a reason for this exuberant rally and the word on the street is that it was due to a denial by China about possible reviews of European debt holdings.

Okay...so China gave a confidence boost to the EU's financial problems by not adding to their woes? This is the same ...

In spite of the late day retreat by the broader market, the action continues to appear consistent with a bottoming process. That doesn't mean we can't go lower, but even if we do I don't think we're all that far off from a tradeable bottom.

The euro continues its march lower and has settled just off its 4 year low, so that may continue to roil the markets. Especially if it spikes lower.

Some market data released today saw total April durable goods orders post a 2.9% ...

The S&P 500 found itself down more than 3% shortly after the market opened for trade today, but staged a long, volatile rally to close the session just above the flat line. It really was an impressive turn around considering how deep the market fell in that first 20 minutes of trade. I guess it must have been that great consumer confidence number that was announced at 1000.

Of course fiscal concerns in Europe are still in play and now the market wants to worry about the geopolitical ...