Weekly Market Commentary 08/26/2016

The financial markets spent most of the week preoccupied with monetary policy, which always grabs headlines when central bankers around the world gather for the annual Jackson Hole Conference normally held this time of the year. Unlike last year, Fed Chair Janet Yellen was scheduled to speak this time, giving added significance to the confab since the next policy meeting on September 20-21 is less than a month away. Not surprisingly, Yellen’s speech did little to quell speculation regarding the timing of the expected rate increase, albeit she did note that the “case for a rate hike has strengthened in recent months.” On that score, the week’s economic data were generally supportive of a rate hike sooner rather than later.