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Library » March 2016 Perspective

March 07, 2016 | Market Commentary

A revised estimate of real gross domestic product (GDP) showed the economy expanded at a 1.0% annualized rate in the fourth quarter, up from an initial estimate of 0.7% growth. A change to inventories accounted for nearly all of the upward revision.

Library » Fourth Quarter 2015 International Perspective

February 09, 2016 | International Markets

Quarterly Market Review At the beginning of the fourth quarter, an optimistic outlook for commodity prices and accommodative monetary policy of major central banks drove global equity markets higher. As the period progressed, renewed concerns over China’s growth trajectory emerged amid economic …

Markets & Economy » The Market Rides the Volatility Wave — What to Know About China

January 20, 2016 | Market Commentary

U.S. equity markets got off to a rough start in 2016. During the first week of the year, major domestic indices were down around 6%, with the S&P 500 registering its worst five-day performance to open a year in history. Volatility continued last week. As with the market downturn last summer, …

Library » December 2015 Perspective

December 03, 2015 | Market Commentary

Global equity markets were essentially flat in November following strong returns during October. Valuations in the broad U.S. stock market remain generally elevated, but we continue to see little evidence of excesses in the market or economy that would need to be unwound. In this environment, …

Markets & Economy » Selectivity: The New Way Forward for Investors

November 19, 2015 | Investment Themes

Shifting tides in the global economic backdrop during 2015 led us to make broad changes to our equity sector allocations throughout the year. We believe these changes position investor portfolios to capture what we view as the best opportunities in global equity markets that we expect to play …


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