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Background 2019 closed out another year of US equity (S&P 500) outperformance vs. its non-US counterpart, (MSCI ACWI ex US). In fact, the S&P 500 has outperformed the MSCI ACWI ex US index in eight of the last ten calendar years. This persistence may lead investors to question the relevance

Please find the next blog in our monthly series that provides a review of the prior month’s market data, the state of the economy, and the global financial markets. Global Economy: Economic data is reflecting a recovery from the pandemic lows, supporting continued risk-asset strength. Nonetheless global optimism may be

Please find the next blog in our monthly series that provides a review of the prior month’s market data, the state of the economy, and the global financial markets. Global Economy: While economic data continues to reflect the extreme impacts of the COVID-19 pandemic, global markets remained tilted toward optimism

Please find the next blog in our monthly series that provides a review of the prior month’s market data, the state of the economy, and the global financial markets. Global Economy: Relative to the historic second half of March, markets appeared comparatively calm throughout April. Alongside that reduction in volatility

Background Coming out of the Global Financial Crisis (GFC) in 2009, developed market central banks utilized Quantitative Easing (QE) as a way to stimulate their respective economies. Generally through the purchase of sovereign bonds, the central banks were able to reduce interest rates along the yield curve, essentially making it

Please find the next blog in our monthly series that provides a review of the prior month’s market data, the state of the economy, and the global financial markets. Global Economy: In some sense, the world was more united than it has been in a long time in March. As

Extraordinary Market Events: Implied and realized volatility in both stocks and bonds has ramped to levels not seen since the global financial crisis. Equity markets officially entered bear market territory, with key benchmarks down over 20% from mid-February highs. The entire US Treasury yield curve briefly traded below 1%, as

Please find the next blog in our monthly series that provides a review of the prior month’s market data, the state of the economy, and the global financial markets. Global Economy: Despite risk-on sentiment that drove stocks to record levels in the first half of the month, it was a

The Federal Reserve cut interest rates today by half percentage point amid concern the coronavirus outbreak could threaten the US economy.  It is the first emergency move like this since 2008. “The fundamentals of the U.S. economy remain strong,” a statement from the Federal Reserve said. “However, the coronavirus poses

On Monday and Tuesday of this week, the Dow Jones Industrial Average fell nearly 2,000 points, falling from historic highs by approximately 6.5%. The spread of Coronavirus to countries such as Korea, Iran and Italy sparked the selloff which was compounded on Tuesday when the CDC warned Americans that a