Market Update: April 2022

While 2021 was all about the equity market, 2022 so far has been all about the fixed-income market. U.S. Treasuries have seen one of the largest sell-offs in a generation, driven largely by investors’ fears over rising inflation. U.S. CPI printed at 8.5% for the month of March, one of the highest readings since the […]

Market Update: March 2022

February saw a continuation of the January volatility, with geopolitics weighing on risk sentiment after Russia invaded Ukraine. Commodity prices are rising quickly, with oil trading well north of $100/barrel, and agriculture and metals prices also increased over the period. Russia is a large supplier of energy (oil and gas) to the global economy, and […]

Market Update: February 2022

January turned out to be one of the most volatile months for equity markets since March of 2020, as 2021 went out like a lamb, and 2022 came in like a lion. The S&P 500 fell by roughly 11% in the first few weeks of January, before partially rebounding as the month came to a […]

Market Update: January 2022

December was a choppy month for stocks but finished on a high note, as stocks enjoyed a late Christmas rally to close out the year. January on the other hand has gotten off to a much more active start, with tech stocks falling into correction territory (-10%), as the Fed and other Central Banks take […]

Market Update: December 2021

As the fourth quarter heads toward a close, markets remain choppy, with large swings across major indices fairly commonplace as investors digest new information on the economy, fiscal policy, and Central Banks. In particular, the focus over the past couple of weeks is the Federal Reserve, which adopted a much more hawkish tilt at their […]

Market Update: November 2021

Stocks finished October on a strong note, as the passage of the U.S. infrastructure bill helped to support risk sentiment. Central Banks continue to remain accommodative, even though the Federal Reserve recently began to taper its asset purchase program by $15 billion earlier this month. Recall that in 2020 the Fed began a quantitative easing […]

Market Update: October 2021

The third quarter came to a relatively quiet end, with U.S. equities falling by roughly 5% during the month of September, before partially rebounding during the first half of October. The decline in equities was attributed to continued concerns over rising inflation and stretched supply chains, which continue to be problematic as we enter the […]

Market Update: September 2021

The summer came to a relatively quiet end, with stocks rising in the final weeks of August, bond yields relatively little changed, and energy prices rebounding strongly off the July lows. From an economic standpoint, growth continues to moderate as inflation creeps higher, but so far this dynamic hasn’t impacted equity markets in a material […]

Market Update: August 2021

The summer has been kind to capital markets thus far, with relatively little volatility to speak of as we approach the dog days of August. Much of the economic focus remains on inflation, which continues to creep higher on the back of rising food, energy, and housing costs. Used cars meanwhile have gotten so expensive, […]

Market Update: July 2021

The month of June was characterized by an interesting conundrum in financial markets where bond yields fell over the month, even though inflation data continued to rise over the period. The decline in yields was led by the long end of the curve, which resulted in one of the largest 3-day bond-flattening episodes (in this […]