Shutdown, market surge and euro increase mark January
MONTHLY MARKET COMMENTARY |
The U.S. government experienced a three-day shutdown in January, yet the market seemingly shrugged it off at the time. The Dow Jones and the S&P 500 surged to record highs following the Senate vote to end the shutdown.
Also in January, the euro hit a three-year high on the heels of tighter monetary policy from the European Central Bank (ECB). As outlined in October of last year, the ECB’s plan to reduce its monthly asset purchases by half began this month in January.