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April 12, 2017 Article 1 min read
March returns for U.S. stocks were flat, with the broad market Russell 3000 adding less than one-tenth of a percent for the period. However, year to date, all the major benchmark indices remain in positive territory.

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Executive summary

  • March returns for U.S. stocks were flat, with the broad market Russell 3000 adding less than one-tenth of a percent for the period. However, year to date, all the major benchmark indices remain in positive territory.
  • International equities in developed and emerging markets achieved strong returns last month and are outperforming their domestic counterparts year to date.
  • Fixed income performance was largely flat last month. The Bloomberg Barclays Aggregate Index is holding on to a 0.8% gain year to date, but lags equity returns by a significant margin, indicating a continuation of the “risk on” environment.
  • In a move that was well telegraphed and widely anticipated by investors, the Fed hiked its target interest rate by 25 basis points on March 15 and is projecting two additional hikes this year.