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Stocks Continue to Rise as Yields Fall

Short-term Treasury yields declined this week as the Commerce Department reported that CPI levels rose by less than previously estimated (0.5% vs expected 0.6%.) In addition, retail sales rose in September by a significant margin, in part due to repair and replacement costs and higher fuel costs incurred during the recent hurricanes. Jobless claims have returned to pre-storm levels relatively quickly; which may suggest a rebound in payroll strength. U.S. consumer sentiment index, a measurement of Americans’ perceptions of their finances rose to the highest level in 13 years. On the whole, it was a bullish week for investors as they continue to see record highs for the stock market.

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