One of the most historic market crashes ever took place 10 years ago today, with the Dow Jones Industrial Average Index plunging more than 1,000 points, or 9%, within minutes, only to regain most of the losses by the end of the day. And thus, the flash crash was born.

Originally, a fat finger trade for a large order to sell Proctor & Gamble stock was blamed as the first domino to set off a terrible chain reaction, but the CME Group quickly determined no evidence of this. They even went as far to say that high-frequency traders actually contributed to market stability, as stock prices quickly rebounded.

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Like other areas of the economy, the finances of states, counties, cities, and towns have been heavily impacted by efforts to contain the COVID-19 pandemic. The disruption has raised concerns for municipal bond (“muni”) investors. As shown in the LPL Chart of the Day, municipal bond yields, a measure of risk, have started to rise again compared with similarly dated Treasuries after looking like they were trending downward.

“Municipal bond investors are concerned and rightfully so,” said LPL Financial Chief Investment Officer Burt White. “And state and local governments are facing nearly

The last week of April was a big news week. A very weak first quarter GDP highlighed a busy economic calendar. Investors digested a flurry of earnings reports, including some of the biggest names, such as Apple, Amazon, Facebook, and Microsoft. Gilead Sciences released promising test results for a COVID-19 treatment, a positive step in potentially limiting the human and economic impact of the virus as some states began to reopen their economies. Finally, we heard from three major global central banks. 

In the News

Stocks bounced early the week of April 27, but limped to the finish. The S&P 500 Index ended

Last week was a big week for central banks, as the Bank of Japan, European Central Bank, and Federal Reserve all had meetings. What we know is each central bank is doing all they can to help bring back confidence and liquidity, while likely keeping rates very low for a long time.

Please view our recent Street View video for more color on central banks.

Last, please read our recent blog for more on this subject.

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• This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that