Investment Perspectives

Autumn’s approach brought a spate of disquieting headlines, prompting investor angst and choppy financial markets.

Eighteen months after the pandemic slammed into our shores, most Americans have been able to regain a sense of normalcy. 

This year, equity markets have generally continued to rally on signs that the coronavirus will ultimately be contained, prompting hopes of economic healing and, for society, a return to something approaching normalcy.

An investor who had been off the grid, checking only year-end account statements, might conclude that the backdrop has been uneventful, if not favorable.

As summer gives way to autumn, it remains evident that the coronavirus still has the upper hand in many regions around the globe.

Covid-19 represents a globally shared crucible, the first since the second world war. 

As the year began, the U.S. economic expansion seemed poised to continue, with calming trade tensions and three Fed rate cuts propelling stocks to record levels.

Another calendar year under our belts and another 180-degree turn. In 2018, virtually every major asset class declined in value, many substantially.