17 Apr 2022

1st Quarter Charts 2022

Q1 2022 Was a Historically Challenging Period for Stocks and Bonds Global stocks and US core bonds are both down year to date as markets digest higher inflation, rising interest rates, and geopolitical uncertainty As we’ve discussed for some time, rising inflation and rising interest rates creates challenges for both stocks and bonds, and in […]

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07 Feb 2022

4th Quarter Charts 2021

The World Faces a Fifth Wave of Covid-19 Infections, But Deaths Have Not Risen in Concert COVID-19 remains a key variable for the near-term (12-month) global economic and market outlook. We still believe the most likely medium-term (multiyear) base case is for continued progress against the virus and a lessening of its economic impact over […]

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27 Jul 2021

2nd Quarter Charts 2021

Overseas Economic Data is Surprisingly Strong The U.S. economy has been very strong this year, but it looks like U.S. GDP peaked in the second quarter and will decelerate going into 2022. However, global GDP growth is likely to strengthen in the second half of the year, driven by accelerating growth outside the United States. […]

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01 Oct 2020

3rd Quarter Charts 2020

Asset Class Returns The S&P 500 is Highly Concentrated at the Top The outperformance of FANMAG stocks means concentration within the index has soared to record highs. The top 10 stocks in the S&P 500 make up a record 28% of the total market cap of the index. The top names in the index have […]

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