Weekly Market Recap - Friday, 18-Aug

US equities were lower this week, with the S&P 500 and Nasdaq both down for a third-straight week. The big story this week was the ongoing backup in yields, with the 10Y yield hitting 4.33% this week, the highest since 2007, while 10Y TIPS yields hit the highest since 2009. There wasn't much new from this week's July FOMC meeting minutes, which contained no hints at future policy actions, though officials warned of significant upside risk to inflation, which could require further tightening of monetary policy.