Market Matters: July 2020
Global risk assets advanced in July, extending the prolonged market rally that began in late March.
Equities
US Manager Universe Statistics: Second Quarter 2020
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Review of Market Performance: Fiscal Year 2020
While US-China tensions began to slowly de-escalate in the the first half of FY 2020, the arrival of the COVID-19 pandemic in the second half upended the investment landscape. Gold and US Treasuries were the big winners as investors rushed into safe havens, while central banks cut rates and expanded QE programs. Equities have mounted a remarkable comeback, while real assets generally remain quite depressed. This chart book presents returns and other market metrics for fiscal year 2020.
Will Virus-Linked Risks Overwhelm Small-Cap Equities?
No, we’re optimistic about this diverse collection of companies, and we think investors without dedicated allocations should establish toe-hold positions in developed markets (DM) small-cap equities funded from DM mid- to large-cap peers.
Market Matters: June 2020
Risk assets broadly rallied in second quarter, sharply reversing course after experiencing extraordinary market turmoil in February and March.
Market Matters: May 2020
Risk assets advanced again in May, building on April’s strong price momentum.
VantagePoint – The Path Ahead: From a Bear Market to the New Normal
In this edition of VantagePoint, we review the shape of historical recoveries from bear markets and recessions. We believe that both a V-shaped and a disastrous L-shaped economic recovery are unlikely, with a W- or U-shaped economic recovery more probable.
US Unemployment Rate Reflects Economic Toll of COVID-19
The US economy lost a staggering 20.5 million jobs in April, in the worst plunge in payrolls since the Great Depression, according to data released by the US Bureau of Labor Statistics this morning.
US Manager Universe Statistics: First Quarter 2020
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Market Matters: April 2020
Most risk assets surged in April, partially recovering from steep losses during first quarter’s volatile market environment. Global equities bounced back with double-digit gains, driven largely by US shares.