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Monthly Market Commentary

october 2020

Tech tumbled, ended risk asset rally

Tech tumbled, ended risk asset rally

U.S. dollar strengthened in September as the existing monetary stimulus wane and expectations for fiscal stimulus before the election fade.

  • October 16, 2020

September 2020

Rally continued, but pace slowed

MONTHLY MARKET COMMENTARY

Rally continued, but pace slowed

Sustained upside inflation risks remain low despite recent stimulus measures, but inflation dynamics are fluid.

  • September 18, 2020

July 2020

Relatively attractive yields benefit real estate

MONTHLY MARKET COMMENTARY

Relatively attractive yields benefit real estate

Reopening risks weighed on midstream energy performance and relatively attractive yields benefited real estate.

  • August 13, 2020

June 2020

Positive risk sentiment benefits credit spreads

MONTHLY MARKET COMMENTARY

Positive risk sentiment benefits credit spreads

In regard to fixed income, nominal Treasury yields fell across the curve and positive risk sentiment benefited credit spreads.

  • July 14, 2020

May 2020

Risk assets and economic data diverge in May

MONTHLY MARKET COMMENTARY

Risk assets and economic data diverge in May

Global assets continued to recover in May but year-to-date returns broadly remain negative with the exception of fixed income.

  • June 18, 2020

April 2020

April markets: Credit spreads narrow amid monetary policy

MONTHLY MARKET COMMENTARY

April markets: Credit spreads narrow amid monetary policy

Fiscal and monetary policy response to the global pandemic drive April performance in fixed income and equities markets.

  • May 11, 2020

March 2020

Spike in credit spreads amid coronavirus concerns

MONTHLY MARKET COMMENTARY

Spike in credit spreads amid coronavirus concerns

Flight to safe haven assets and a halt in economic activity drive performance in fixed income and equities markets in first quarter 2020.

  • April 09, 2020

February 2020

Falling rates helped domestic core fixed income returns

MONTHLY MARKET COMMENTARY

Falling rates helped domestic core fixed income returns

Elevated uncertainty associated with coronavirus outbreaks weighed on business activity and investor sentiment.

  • March 10, 2020

January 2020

Expectations of a Fed rate cut in 2020 rose on growth concerns

MONTHLY MARKET COMMENTARY

Expectations of a Fed rate cut in 2020 rose on growth concerns

U.S. equities were flat as concerns grew about the impact of the coronavirus on global economies, which increased volatility last month.

  • February 12, 2020

December 2019

U.S. equities close out the year on a positive note

MONTHLY MARKET COMMENTARY

U.S. equities close out the year on a positive note

Equities values broadly outperformed growth during the month of December, led by technology, energy, utilities and healthcare.

  • January 13, 2020

November 2019

Equities reached new highs in November

MONTHLY MARKET COMMENTARY

Equities reached new highs in November

United States equities reached new highs in November and continued to gain on a mix of supportive monetary policy.

  • December 09, 2019

October 2019

Economy holds in October despite global slowdown concerns

MONTHLY MARKET COMMENTARY

Economy holds in October despite global slowdown concerns

U.S. equities gained on strong employment and corporate earnings in October, suggesting that the U.S. economy is holding steady.

  • November 18, 2019

September 2019

U.S. economy holds steady in September amid global slowdown concerns

MONTHLY MARKET COMMENTARY

U.S. economy holds steady in September amid global slowdown concerns

U.S. equities gained suggesting that the economy is holding steady amid concerns of global slowdown and faltering manufacturing activity.

  • October 14, 2019

August 2019

Trade rhetoric and Brexit were top of mind in August

MONTHLY MARKET COMMENTARY

Trade rhetoric and Brexit were top of mind in August

Trade rhetoric and Brexit concerns continued to be front of mind for investors amid underwhelming economic data.

  • September 09, 2019

July 2019

Investors weigh rate cut and trade talks in July

MONTHLY MARKET COMMENTARY

Investors weigh rate cut and trade talks in July

An interest rate cut fulfilled market expectations, but a lack of future stimulus measures caused a market sell off at the end of July.

  • August 12, 2019

June 2019

U.S. equities rebound in June

MONTHLY MARKET COMMENTARY

U.S. equities rebound in June

U.S. equities rebound to a record high in June. The advance was fueled in part by investors’ expectations of an interest rate cut.

  • July 15, 2019

May 2019

Investors consider heightened trade rhetoric in May

MONTHLY MARKET COMMENTARY

Investors consider heightened trade rhetoric in May

Domestic equities fell as United States and China trade rhetoric heightened and investors weighed unexpected U.S. tariffs on Mexico.

  • June 10, 2019

April 2019

Feds continued in April to weigh the risks of raising interest rates

MONTHLY MARKET COMMENTARY

Feds continued in April to weigh the risks of raising interest rates

U.S. equities advanced as Federal Reserve officials continued to weigh the risks of raising interest rates amid global growth concerns.

  • May 13, 2019

March 2019

March sees rate increase halt, Brexit debate and more

MONTHLY MARKET COMMENTARY

March sees rate increase halt, Brexit debate and more

U.S. equities advanced as Federal Reserve Chairman, Jerome Powell, affirmed the central bank’s decision to halt rate increases.

  • April 08, 2019

February 2019

U.S. economic growth in February remained firm

MONTHLY MARKET COMMENTARY

U.S. economic growth in February remained firm

Economic growth in the U.S. remained firm in February following the release of fourth quarter GDP which signaled growth at 2.6 percent.

  • March 11, 2019

January 2019

Employment data and earnings reports ease worries of slowdown

MONTHLY MARKET COMMENTARY

Employment data and earnings reports ease worries of slowdown

Strong employment data and earnings reports eased worries about a potential economic slowdown despite the U.S. partial government shutdown.

  • February 11, 2019

December 2018

U.S. equities fell sharply in December

MONTHLY MARKET COMMENTARY

U.S. equities fell sharply in December

U.S. equities fell to close out 2018 as major indices entered correction territory amid slowing growth concerns and a government shutdown.

  • January 14, 2019

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