Q2 2019: NEWSLETTER
The first half of the year saw strong market performance across all asset classes as client multi-asset portfolios have enjoyed positive returns. While gains posted across the board, the equities market stole the spotlight. Representing large blend domestic equities, the Standard &Poor’s 500 Index returned 7% in June despite a difficult May, resulting in second-quarter gains of 4.2%. The Index posted an 18.5% year-to-date return, despite modest inflation, significant trade uncertainty, and a 3-month vs 10-year US Treasury inverted yield curve, often considered a predictor of recession. Year-to-date domestic equity market returns have not been this strong since 1977; June’s domestic equity market performance was the best since 1955.
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