Our latest Market Perspectives provide timely economic and financial expertise on emerging trends and issues that are top of mind with our clients.
- October was a positive month for U.S. equities, with all benchmark indices gaining ground, led by the large-cap S&P 500.
- International equities also enjoyed an upbeat month, and both developed market and emerging market stocks continue to outperform their domestic counterparts year to date.
- Fixed income performance was more subdued in October, with many indices remaining virtually flat, with the exception of the more risk-correlated high yield bonds, which gained 0.4% for the month.
- Current Fed Governor Jerome Powell was nominated to be the next Chair of the Federal Reserve, a move that is believed to signal a general continuity of current Fed policy. The U.S. economy grew by an estimated 3.0% in the third quarter, despite the damage inflicted by three major hurricanes over that period, while the labor market added more than 260,000 jobs in October and the jobless rate declined to 4.1% - its lowest point since December 2000.