Insights

U.S. stock indices finished the third quarter at record highs driven by growing corporate profits, slowing inflation and the anticipation of a reduction in the federal funds rate, which came to fruition in September. Fixed income returns were positive as yields declined across the maturity spectrum, reflecting moderating consumer prices and slower job creation. Global…

The S&P 500 Index rose in the second quarter driven by strong corporate profits, the promise of artificial intelligence and slowing inflation. Sizable gains in a small number of very large stocks lifted market capitalization weighted indices, though the average U.S. and international stock registered losses for the period. Interest rates finished the quarter little…

Equities rose in the first quarter driven by strong corporate profits and anticipation of a reduction in the Federal Funds Rate this year. Fixed income returns were muted as healthy economic data and higher-than-expected inflation lifted interest rates modestly, though yields are below their peak in 2023. Global economic conditions remain mixed, with healthy momentum…

Last year finished on a bright note with equity and fixed income markets registering exceptionally strong returns in the fourth quarter. Stocks were lifted by resilient economic activity in the U.S., resumption of growth in corporate profits and a fall in interest rates. The significant decline in yields during the final three months of the…

Equity and bond markets declined in the third quarter, pressured by rising interest rates, which threaten the durability of the U.S economic expansion. The Federal Reserve continued its campaign of rate increases during the quarter, but at a slower pace and signaled its determination to maintain restrictive policy to ensure inflation does not reaccelerate. The…

Equity markets continued to advance in the second quarter led by a narrow group of very large companies. Interest rates drifted higher as economic data remained stronger than expected. The Federal Reserve paused its tightening cycle in June and will monitor incoming data to determine if more actions will be required. Economies around the world…