Author: Ross Wilkers|| Date Published: June 17, 2016
The GovCon Index fell for a third consecutive session Friday by 0.435 points to 78.356 in a close that snaps the GCI’s four-week gain streak as market activity was shaped by continued reaction to the latest Federal Reserve interest rate outlook and uncertainty over the Brexit referendum.
The GCI recorded a weekly decline of 1.97 percent compared to the S&P 500’s respective fall of 1.18 percent in the final full-trading week ahead of the Britain’s Thursday referendum on whether to leave the European Union.
The Fed cited the Brexit vote as a potential source of volatility to the U.S. economy in the central bank’s mid-week statement to leave interest rates unchanged.
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The GovCon Index fell for a third consecutive session Friday by 0.435 points to 78.356 in a close that snaps the GCI’s four-week gain streak as market activity was shaped by continued reaction to the latest Federal Reserve interest rate outlook and uncertainty over the Brexit referendum.
