Weekly Market Commentary 07/29/2016

While the Democratic National Convention grabbed most of the headlines this week, monetary policy took center stage in the financial markets, supported by a spate of data that highlighted the ongoing crosscurrents buffeting the U.S. economy. Not surprisingly, the Fed adhered to the expected script at its two-day policy setting meeting that concluded on Wednesday, keeping rates unchanged and the door open for hike in the foreseeable future.