August Monthly Commentary

August was a difficult month as China’s surprise devaluation of the yuan fueled concerns around global growth and unleashed a wave of volatility, sparing few asset classes. For instance, the MSCI EM Index fell 9% as emerging market equities—especially China’s … Continued

July Monthly Commentary

The Greek debt crisis and a steep sell-off of overheated local equities in China dominated headlines in July.  However, it was slowing growth out of China—the world’s second largest economy—that seemed to have the most pervasive impact on markets.  Commodity … Continued

February Monthly Commentary

Financial markets reversed course in February as global equities rallied. The MSCI EAFE Index returned 6.0% amid investor anticipation of the European Central Bank’s quantitative easing program, which kicks off this month. The gains were also driven by strong returns … Continued

January Monthly Commentary

Global equities were a mixed bag in January as investors responded to diverging monetary policies and the resulting potential for an uptick in volatility.  The S&P 500 fell 3.0% on the month while emerging markets were modestly positive as the … Continued

December Monthly Commentary

US equities scaled new highs in December amid optimism around the economy. To this end, the S&P 500 returned 13.7% for the year and the Russell 2000 gained 4.9%. These advances came amid a slump in the rest of the … Continued

November Monthly Commentary

After a spike in volatility in October and a subsequent recovery, it was back to more of the same for US markets in November as many domestic equity indices scaled new highs.  Conversely, 10-year government bond yields in many countries—Germany, … Continued

October Monthly Commentary

Markets experienced a turbulent ride in October but wound up in a familiar place by month end with domestic equities positive and Treasury yields lower. A wave of volatility spurred by global growth concerns permeated through markets – first felt … Continued

September Monthly Commentary

Over the course of this year we have noted that divergent global central banking policies will likely have a dramatic effect on the near term investment landscape.  This notion was on display in September as the Federal Reserve appeared steadfast … Continued

August Monthly Commentary

Major asset classes mostly gained in August as volatility that crept into the marketplace in late July receded amid light late-summer trading.  Global bond yields inched lower on the month, highlighted by German Bund 10-year yields hitting record lows at … Continued

July Market Commentary

Most asset classes finished in the red in July as volatility crept up at the end of the month to levels last seen in April. Global equities tumbled as escalating conflict around the globe overshadowed strong economic data in the … Continued