July 4, 2025

June 2025 Returns and Asset Performance

Major Asset Classes June 2025 Performance Comparison Introduction June returns for the S&P 500 (+5.0%) were solid despite volatility from trade tensions, inflation concerns, and geopolitical risks.  The last day of the quarter also saw a new all-time high, fueled by strong earnings from big tech and optimism from potential […]
May 3, 2025

April 2025 Returns and Asset Performance

Major Asset Classes April 2025 Performance Comparison Introduction April returns tell a tale of two markets. Early in the month, a severe market drawdown was triggered by tariff turmoil. Notably, the second half of the month had a relief rally given reduced geopolitical tension and improving corporate earnings. The S&P500 […]
March 2, 2025

February 2025 Returns and Asset Performance

Major Asset Classes February 2025 Performance Comparison Introduction February returns for the S&P 500 index (-1.4%) saw two all-time highs followed by sell-off at month-end tied. The market turned on new fiscal tightening, pending tariffs, consumer confidence declines, and forward projections of lower GDP and earnings growth. A shift in […]
February 2, 2025

January 2025 Returns and Asset Performance

Major Asset Classes January 2025 Performance Comparison Introduction January returns for the S&P 500 index (+2.7%) exactly offset the losses seen in December. It was a rollercoaster month with another all-time high for the S&P 500 index, followed by sharp drops triggered by a new IA model from China and […]
January 6, 2025

December 2024 Returns and Asset Performance

Major Asset Classes December 2024 Performance Comparison Introduction December returns for the S&P 500 index (-2.7%) were down, but lead global markets by a wide margin for the year (+23.3%). US government bonds (-1.7%) were also down in December, struggling to stay positive in 2024, but ending the year with modest […]
December 3, 2024

November 2024 Returns and Asset Performance

Major Asset Classes November 2024 Performance Comparison Introduction November returns for the S&P 500 index (+5.7%) were the strongest of the year, benefiting from a post-election rally. Government tax reform, deregulation, and improvements in government efficiencies launched the S&P 600 Small Cap index (+11.1%), while the 20Y+ Government Bond (+2.0%) […]
October 2, 2024

September 2024 Returns and Asset Performance

Major Asset Classes September 2024 Performance Comparison Introduction September returns for the S&P 500 index began with a price correction of -4.8% and then rallied back to gain +2.0% for the month, as inflation continued to stabilize and given a jumbo rate cut of 0.5% by the Fed.  Moreover, analysts’ […]
August 31, 2024

August 2024 Returns and Asset Performance

Major Asset Classes August 2024 Performance Comparison Introduction August returns for the benchmark S&P 500 index (+2.3%) benefited from optimism regarding a ‘soft landing’ and encouraging inflation data. More astounding, US large-cap stocks recovered from a sharp drawdown at the start of the month, with a dramatic shift from risk-off […]
July 1, 2024

June 2024 Returns and Asset Performance

Major Asset Classes June 2024 Performance Comparison Introduction June 2024 returns for the benchmark S&P 500 index (+3.50%) deflected concerns about inflation, market breadth, government debt levels, and large bond auctions by the U.S. Treasury. The index is now up +14.5% year-to-date and the United States continues to have the […]
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), […]