Recent Insights

We pride ourselves on customizing investment portfolios for each client based on their respective circumstance, preference, tax situation etc. In addition, we maintain an independent, unconstrained, and overarching view on the market landscape, and publish our related insights on a quarterly basis. Please find a few selected examples below.

Q4 2023

US Equities climbed meaningfully higher for 2023, initially driven by a select few very large “Magnificent 7” benchmark names and Artificial Intelligence enthusiasm. After pulling back in the fall, markets rallied once again in the fourth quarter amid better- than-feared economic and geopolitical headlines as well as a dovish Fed pivot that bolstered investor confidence.

Q3 2023

Despite moderating job growth and inflation during the third quarter, the Fed remained steadfast in their commitment to higher rates for longer. Against that backdrop and after layering on an uninspiring corporate revenue outlook as well as Equity profit taking following a strong start to the year, stocks sold off for the period with notable downside acceleration into quarter end.

Q2 2023

With central banks making progress on taming global inflation and potential US crises surrounding banks and the debt ceiling not materializing, Equity markets moved higher while Fixed Income sold off during the second quarter.

Q1 2023

In stark contrast to 2022, both Equity and Fixed Income markets were higher for the first quarter of 2023, leading many to question if reports of the death of the 60/40 portfolio have been grossly exaggerated. Mean reversion fueled Equity strength, particularly in Large Growth names, while higher absolute rate levels, alongside peaking interest rates, buoyed Fixed Income performance.

Q4 2022

2022 was a uniquely challenging year with both Equity and Fixed Income markets generating negative returns. However, momentum turned positive in the year’s final quarter amid moderating U.S. inflation, favorable conditions in Europe, and China’s abrupt easing of its Covid restrictions.

Q3 2022

Markets trended higher to start the third quarter but reversed course midway and ultimately finished lower for the period. Persistent concerns about rising inflation, the FED’s aggressive response, global growth weakness, and a surging US Dollar weighed on the markets.

Q2 2022

Markets accelerated to the downside during the second quarter amid intensifying inflationary concerns, aggressive central bank tightening, and tumbling sentiment. On the heels of first quarter weakness, 2022 now has the dubious distinction of being the only time in half-a-century where both fixed income and equity markets suffered double digit drops during the first six months of the year.

Q1 2022

Global investment markets were pressured for much of the quarter as early profit-taking and portfolio rotation gave way to broad-based selling amid the Russian invasion of Ukraine and intensifying inflation concerns. Notably, while gold and the dollar found support amid this flight Fixed Income suffered its worst losses in two decades as the 10-year US Treasury yield spiked to 2.5%.