January Monthly Commentary

After a strong start to the year, developed market equities subsequently reversed course, ending January in the red. In the U.S., the S&P 500 Index fell 3.3% in the week ended January 29, pushing the monthly return into negative territory. … Continued

December Monthly Commentary

Global equities ended 2020 with a bang, adding to already sizable gains from earlier months, as positive news around COVID-19 vaccines and a fiscal stimulus plan bolstered sentiment. In the U.S., the S&P 500 Index increased 3.8% in December; small-cap … Continued

November Monthly Commentary

November was a momentous month as investors, emboldened by the results of the U.S. elections and the potential success of multiple COVID-19 vaccines, bid up equities. The twin prospects of a divided government resulting in the likelihood of a diminished … Continued

October Monthly Commentary

Developed market equities faltered in October amid a wave of risk aversion fueled by an uptick in new cases and hospitalization rates for COVID-19 in the U.S. and Europe. Domestic equities posted their second straight month of declines as volatility … Continued

September Monthly Commentary

U.S. equities snapped their winning streak in September, upending five straight months of gains as technology heavyweights came under pressure and the pandemic continued to roil the economy; the S&P 500 Index fell 3.8% last month but ended the third … Continued

August Monthly Commentary

Equities continued their winning streak in August—marking the fifth straight month of gains—amid improving investor sentiment bolstered by ongoing stimulus, better than expected quarterly earnings, and optimism around a vaccine. In the US, the S&P 500 Index returned 7.2%, gaining … Continued

July Monthly Commentary

The S&P 500 Index was up for the fourth straight month, increasing 5.6% in July; the gains pushed the index into positive territory with a year-to-date returns of 2.4%. This confidence comes despite a record spike in infection rates in … Continued

June Monthly Commentary

Risk assets added to recent gains as economies around the world relaxed restrictions and central banks and governments continued to provide extraordinary stimulus to offset the weak economic backdrop. Despite a pandemic and a recession, investors embraced risk in their … Continued

May Monthly Commentary

Risk assets pushed higher this month as economies around the world began reopening and relaxing restrictions. While COVID-19 remains a dominant headline, news of progress in developing a vaccine and signs of a rebound in economic activity bolstered market sentiment. … Continued

April Monthly Commentary

Following a disappointing first quarter, risk assets moved higher in April as central banks and governments stepped in with monetary and fiscal stimuli to stem the fallout from the COVID-19 pandemic. While the virus continued to spread, new data indicated … Continued