The Stock Market Is Not the Economy
The word “unprecedented” to describe the current environment may seem overused, but the speed and depth of the economic disruption was indeed unprecedented.
Stocks Rebound in 2Q20; Fixed Income Sees More Modest Returns
U.S. stocks posted double-digit returns, with big gains in global ex-U.S. markets. Treasuries were range-bound during the quarter and most fixed income indices posted solid but not spectacular returns
Main Street vs. Wall Street
While Wall Street was in celebration mode, much of Main Street continued to suffer. Against the backdrop of stellar asset price performance, rising cases of the virus in the U.S. tempered optimism going into quarter-end
U.S. Treasuries the Lone Safe Haven in a Rocky First Quarter
U.S. fixed income U.S. Treasury yields fell to record lows in March as investors sought safety and the Fed cut rates to 0%-0.25%. The 10-year U.S. Treasury yield reached a low in March of 0.31% before closing the quarter at 0.70%, down sharply from the year-end level of 1.92%. Other sectors significantly underperformed U.S. Treasuries, […]
Pandemic Fears Roil Equities Across the Board
U.S. stocks The S&P 500 Index plunged 19.6% in the first quarter, its worst quarterly return since the Global Financial Crisis. After falling more than 30% from peak to trough in just a few weeks, the Index rallied 20% going into quarter-end as investors were heartened by the prospect of a $2 trillion stimulus package. […]
A Checklist for Assessing Stable Value Funds
Since they are designed to protect investors against declines in interest rates or drops in asset values, stable value funds—and the “wrap issuers” that insure their portfolios of high-quality corporate and government bonds—have drawn considerable scrutiny from institutional investors amid the current market turmoil. Unlike the 2008 Global Financial Crisis, stable value managers are not […]
Staying Calm Amid Turbulent Markets
Market volatility spiked in the latter half of February and has remained elevated, driven by the spread of the coronavirus outside of China.
Top 10 Tips for Investment Committees
View PDF Investment committees face complex challenges overseeing institutional investment funds. They must navigate myriad laws and regulations, select the right managers and strategies, monitor their portfolios, and ensure their funds can deliver the returns needed for their beneficiaries. To help guide these committees, we developed these 10 tips. (For a deeper dive into the […]
Periodic Table of Investment Returns
One glance at the crazy quilt of colors in the Periodic Table of Investment Returns suggests the challenge investors face in picking an investment class “winner” year-by-year and illustrates the benefit to diversification. Last year offered investors a wild ride, with sentiment overwhelming fundamentals for much of 2016. Bonds rose in value and stocks fell […]