Market Update

Equities and Bonds Rally, Oil Declines in Q2 In the second quarter, global equity and credit markets rebounded from first-quarter weakness as the U.S.-Iran conflict transitioned into a series of intermittent ceasefires and ongoing attempts at de-escalation. President Trump’s initial ceasefire announcement on April 7sparked a risk-on environment that persisted throughout the quarter. In Q2, […]

Iran Conflict Drives Asset Volatility in Q1 The initial outlook for the year reflected a sense of optimism as investors anticipated moderate U.S. economic growth alongside strong corporate earnings and global stability. This environment resulted in a continued rally in global equities, where cyclical sectors performed well and market participation began to broaden beyond artificial

Diversified Global Investors Were Rewarded in Q4 and 2025 Diversified global investors were rewarded in Q4 and throughout 2025. The year witnessed a significant shift where foreign equities outperformed domestic markets, precious metals outperformed equities, and the U.S. dollar weakened against foreign currencies. In the U.S., the S&P 500 Index rose 2.66% in Q4 and

Equity and Bond Markets Continue to Rally Higher in Q3 Investors enjoyed solid performance from global equity and bond markets in Q3 as the global economy and corporate earnings continued to show growth, emboldening investors to embrace risk.  The S&P 500 Index returned 8.12% and the MSCI ACWI ex USA Index, which measures international developed

Equity Markets Rebound on U.S. Tariff Pause in Q2 Global equity markets were volatile in Q2, coinciding with President Trump’s tariff rates announcement and the subsequent pause in early April. Coming into Q2, equity markets were in decline as investors anticipated President Trump’s tariff “Liberation Day” announcement on April 2nd.  When announced, the new tariff

Global Equity Markets Mixed While Bonds Rally in Q1 Financial markets began the year relatively strong, and investors were bullish following the Republican sweep of the November elections.  As President Trump and his administration took office, investors were looking for direction.  In a short period of time, the Trump administration quickly announced tariffs, immigration directives,

Strong Year for U.S. Equities; Bonds Were Mixed 2024 was another strong year for investors in the U.S. equity market.  The S&P 500 Index ended the year up 25.0% and the NASDAQ 100 Index was up 25.9%.  Smaller U.S. companies lagged large caps in 2024, with the Russell 2000 Index rallying 11.5%.1  The U.S. equity

Strong Equity and Bond Market Performance in Q3 Diversified investors were rewarded in Q3 as both equities and bonds rallied in the quarter.  Supportive economic data and the anticipation of Fed rate cuts provided tailwinds for the financial markets. Equities were volatile during the quarter but showed resilience, with performance broadening out by the end

Here Comes the Vol(-atility), Doo-Doo-Doo-Doo. Here Comes the Vol, and I say, it’s alright. A simple Beatles tune, but like the sun, volatility can rise up after being down for a while. But unlike the sun, the timing and frequency of volatility rising and falling are not consistently predictable. As you may have noticed, volatility

Mixed Equity Performance, Solid Bond Income Support in Q2 Equity markets were mixed in Q2 as high-quality, large U.S. companies tied to technology and artificial intelligence continued to drive market performance.  Other cyclical areas of the market were a bit more challenged. Bond investors continued to be rewarded with higher yields and income generation.  Interest