Category: Market Review

Image Depicting Market Review April 2024
Market Review – April 2024

  Ripple Effects The impact of military conflict on markets April 2024 Key Observations Markets repriced in April on “higher-for-longer” rates pushing longer duration fixed income and duration sensitive equities lower. Small-cap growth stocks were hit as the two largest securities in the index declining -15% and -37% due to moderating AI spending concerns.  Escalating […]

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Depiction of a chart with the title "Market Review February 2024"
Market Review – February 2024

Every Rose Has Its Thorn The Cautionary Tale of Valuation February 2024 Key Observations Most risk assets advanced in February as optimism remains that the no-show recession of 2023 continues to fade further into the rear-view mirror. As a result, fixed income investors have also tempered the expectations around rate cuts and longer duration assets […]

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2024 Market Outlook

Prepare Not Predict Interest Rate Challenges into Opportunities December 2023 Key Observations  Our 10-year return forecasts show increased opportunity across fixed income and real assets with a modest step back for equities. This makes for one of the more attractive risk-adjusted returns for fixed income relative to equities we have seen in several years. We […]

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Market Review - November 2023
Market Review – November 2023

Market Review Cheerful for the Holidays Markets rallied in November giving investors plenty for which to be thankful. November 2023 Key Observations  Longer dated interest rates experienced a significant decline as market sentiment leaned towards anticipating 2024 rate cuts. Overall, markets showed positivity, driven by heightened risk appetites fueled by the decrease in rates and […]

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Market Review - August 2023
Market Review – August 2023

Market Review Summer Doldrums Markets took a step back in August as sentiment shifted surrounding Fed policy August 2023 Key Observations  Fitch downgraded the United States’ credit rating to AA+ from AAA at the start of the month. Market volatility continued through the month and most major asset classes experienced negative returns. Higher interest rates […]

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Market Review July 2023
Market Review – July 2023

Markets Heat Up in July Favorable economic data fuels risk assets as markets post solid gains during July 2023. Key Observations Markets posted favorable returns in July as investors found renewed optimism in economic data being reported, even in the face of year-over-year earnings declines. The Federal Reserve raised rates in July, now targeting 5.25-5.5% […]

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Mid Year Market Outlook 2023, represented by market graph
2023 Mid-Year Capital Markets Update

Recessionary Resilience – Defying Expectations Key Observations In our 2023 Outlook, Goodbye TINA, we outlined three broad themes that were likely to influence markets in 2023 – continued volatility, moderating inflation and a bear market bottom. The first half of 2023 has largely validated those views and we do not anticipate material changes ahead of […]

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Screen showing graphs and data, representing Market Review for February 2023
Market Review – February 2023

Hot Data, Cool Markets, Good News While markets retreat, the shift in rate expectations show signs the end of rate hikes is near February 2023 Key Observations Strong economic data pushed market expectations to 0.5% more rate hikes by year end. While perhaps overdone, this speaks to the end is near on rising rates. With […]

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Stock chart representing January 2023 Market Review
Market Review – January 2023

Markets Start 2023 Off with a Bang Filter out the noise and stay the course January 2023 Key Observations Market Recap Broad asset classes kicked off the new year higher after a not-so-jolly December. Sentiment turned decidedly positive based on slowing wage and job growth and cooling price pressures. These trends provided optimism for a […]

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Stock chart representing the Market Outlook for 2023
2023 Outlook: Goodbye TINA (There is No Alternative)

Key Observations Our investment views are based on a simple idea: as facts change, so may our outlook. The last few years have been an interesting period for this ethos as our annual outlook is beginning to feel like a game of ping-pong, oscillating between bulls and bears, as the environment shifts around us. Our […]

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