Our latest Market Perspectives provides timely economic and financial expertise on emerging trends and issues that are top of mind with our clients.
- Domestic equity performance in August was mixed. The large-cap S&P 500 eked out a small gain, while returns for both mid caps and small caps declined slightly.
- International equity performance was also varied, as returns for developed market stocks declined fractionally, while emerging markets recorded further gains. Year to date, overseas equities are outperforming their domestic counterparts by a significant margin.
- Most fixed-income benchmarks gained ground in August; the Barclays Aggregate added 0.9 percent as the yield curve flattened, and the Barclays 1-10 Year Muni Blend returned 0.6 percent.
- A revised second quarter GDP estimate found that the U.S. economy grew at a brisk 3.0 percent pace, beating both the previous estimate and economists’ expectations.
- No new information emerged from the Fed’s annual Jackson Hole symposium, but monetary policy is expected to be the center of attention in the near future when the Fed begins its program to unwind its balance sheet.