U.S. equities finished higher last week, with the S&P 500 up 0.9%. Credit went to a strong batch of earnings and upbeat corporate commentary. Treasuries sold off with 10-year yields up 7bp to 1.31%. (A better-than-expected July employment report drove a Friday bond selloff.) The best sectors were financials (+3.6%) and utilities (+2.3%); the only down sector was consumer staples (-0.6%).