Investment Letters

Global equity markets started this year on a positive note, generating broad gains in the first quarter, rebounding off a difficult end to 2018. Major investment-grade bond indices delivered a…

After reaching all-time highs in the third quarter, major U.S. equity indices fell sharply in the fourth quarter of 2018. The S&P 500 Index briefly entered bear market territory ¹…

While the third quarter saw a relatively calm environment for equities, especially U.S. stocks, in hindsight it was the “calm before the storm…”