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December 19, 2017 Article 1 min read
Our latest Market Perspectives provide timely economic and financial expertise on emerging trends and issues that are top of mind with our clients.

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Executive Summary

  • Domestic equities extended their positive streak in November, with mid-caps leading the way, followed by large-caps and small-caps. Year to date, the S&P 500 is up over 20%.
  • International stocks also delivered positive returns last month, adding to their substantial gains this year; both developed market and emerging market equities are outperforming their domestic counterparts year to date in U.S. dollar terms. 
  • Fixed income performance was mixed in November, with the more risk-correlated global credit achieving a small gain, while other bonds lost ground as the yield curve flattened. 
  • The latest estimate for U.S. GDP growth in the third quarter suggests that the economy expanded slightly faster than previously reported, growing at a pace of 3.3% (revised upward from the initial estimate of 3.0%). 
  • The Fed continued its “quantitative tightening” initiative in December, and it also raised interest rates by another 25 basis points to a range of 1.25% to 1.5%.

Read the full December 2017 Market Perspectives >>