May 5, 2024

April 2024 Returns and Asset Performance

Major Asset Classes April 2024 Performance Comparison Introduction April 2024 returns for the S&P 500 index (-4.2%) were negative after five straight months of gains.  The end of March sent clear ‘risk-off’ signals.  Market conditions included a spike in 10Y yields and the cost of risk insurance (e.g. VIX index), […]
April 6, 2024

March 2024 Returns and Asset Performance

Major Asset Classes March 2024 Performance Comparison Introduction March 2024 returns marked the second quarter and the fifth  straight month of positive stock market gains.  Economic strength and diminishing recession fears led to the best Q1 U.S. market performance since 2019, with total returns for the S&P500 index up +10.2% […]
March 3, 2024

February 2024 Returns and Asset Performance

Major Asset Classes February 2024 Performance Comparison Introduction February 2024 returns marked the fourth straight month of positive stock market gains.  Once again, concentrated equity portfolios with the largest companies outperformed index benchmarks.  However, the market’s true strength lies with those sectors that are now outperforming Technology shares, notably small […]
February 3, 2024

January 2024 Returns and Asset Performance

Major Asset Classes January 2024 Performance Comparison Introduction January 2024 market returns saw the return of Commodities as the top asset group.  In other markets, US stocks beat international markets, corporate bonds marginally outperformed Treasuries, and the US Dollar outpaced all other currencies.  January was also unique as the SEC […]
January 1, 2024

December 2023 Returns and Asset Performance

Major Asset Classes December 2023 Performance Comparison Introduction Stocks Investors have a lot to cheer given that December 2023 market returns made for a positive month, quarter, and year.  The S&P 500 index rallied +4.4% in December, finishing the year up +24.2%.  Key drivers include high US GDP growth, better-than-expected […]
December 1, 2023

November 2023 Returns and Asset Performance

Major Asset Classes November 2023 Performance Comparison Introduction November 2023 market returns were broadly positive.  Stocks and fixed income assets had their best performance month of the year.  For example, the S&P 500 index (+8.9%) and the NASDAQ100 Index (+10.8%) benefited from an improved rate outlook, a strong GDP trend, […]
November 3, 2023

October 2023 Returns and Asset Performance

Major Asset Classes October 2023 Performance Comparison Introduction Strong GDP growth in the third quarter is the backdrop for October 2023 market returns.  Still, the U.S. equity markets fell last month, the third monthly loss in a row. Meanwhile, key drivers included mixed third quarter earnings results, surging long-dated yields, […]
October 3, 2023

September 2023 Returns and Asset Performance

Major Asset Classes September 2023 Performance Comparison Introduction September 2023 returns were negative across many asset groups. U.S. equities declined two months in a row for their first quarterly decline since Q3 2022. In addition, rates on long bonds posted their biggest quarterly advance since 2009.  In response, the US […]
September 1, 2023

August 2023 Returns and Asset Performance

Major Asset Classes August 2023 Performance Comparison Introduction August 2023 returns were negative, ending a 5 month stock market rally.  At one point, the S&P 500 index was down -5.5%, but ended the month down -1.8%. The primary driver of returns was higher borrowing costs , which weighed on the […]
August 2, 2023

July 2023 Returns and Asset Performance

Major Asset Classes July 2023 Performance Comparison Introduction July 2023 returns added to gains seen in June, logging the 5th straight month of gains.  The S&P 500 index was up +3.1% in July and the NASDAQ 100 index up +3.9%, buoyed by resilient GDP growth and a drop in developed […]