The Federal Reserve announced its latest rate decision on Wednesday keeping its target range unchanged. The dovish tones expressed by Fed members have been reiterated by other major central banks across the globe. The ECB kept its interest rates unchanged and Mario Draghi gave signals that more stimulus could be on the horizon if the economic outlook does not improve. Escalated tensions between Iran and the U.S. perhaps eased minorly on Friday as the President called off planned air strikes in retaliation to a domestic surveillance drone being shot down flying over the Straight of Hormuz when he learned of significant casualties.

The U.S. large company stock index responded favorably to accommodative tones set by central bankers and closed at an all time high on Thursday for the first time since April. The index is heading toward the best June since the 1950s. Other equity markets, both domestic and international, also had strong advances this week as investors dissect the potential effects of trade tensions, central bank moves and the recent conflict in the Middle East on global economic output. Interest rates fell further and the 10-year Treasury yield briefly went below 2.0% this week for a two and a half year low causing fixed income investment returns to rise.

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