February was almost a carbon copy of January, albeit a faint copy; almost all equity markets were down as were bond markets.
January was a wake up call for growth investors with many high-flying tech companies missing earnings expectations, which roiled equity markets. Meanwhile, fixed income didn’t offer much protection as the prospect of rising interest rates spooked investors, sending bond indexes lower.
December was a good month for most equity markets around the world, capping off what was a great year for many equity markets.
November was a down month for most equity markets around the world, while most fixed income indexes posted gains.
October was a good month for most equity markets, while fixed income and emerging markets were down. REITs had a fantastic month and are on track for their best year in decades.
September was a negative month for most equity and fixed income markets around the world. Not a huge surprise as September is, on average a down month, fortunately the fourth quarter is historically the best quarter of the year.
August was the seventh positive month in a row for most equity markets, while bonds were mixed. REITs were once again positive, their eighth consecutive positive month.
July was another good month for the equity markets; REITs were again the stars. Fixed income continued to recover from its first quarter losses.