2015 will go into the record books as a disappointing year: developed and emerging market equity returns1 were mostly negative with only a few exceptions; U.S. Treasury and Agency bonds eked out a small return, and investment grade and high yield corporate bonds declined; other segments of the market did poorly, especially commodities. read more ❯

The stock market performed poorly in the third quarter as the S&P 500 total return was -6.4%, the worst quarter in four years. Global equity markets declined even more, with a total return of -12.1%(1). read more ❯

We continue to view the U.S. economy and equity market positively. We reach this conclusion in spite of the fact that economic growth has been disappointing and the market is no longer cheap in historical terms. The reasons for our continued optimism are the following: read more ❯

For the first quarter of the year the U.S. stock market returned about 1%, which obscures significant,almost daily volatility. Equity prices were affected by confusion as to when the Federal Reserve would increase interest rates, and by how much and how fast. read more ❯