Weekly Snippet

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November 2, 2018
Weekly Snippet

Last Week…

Was rocky indeed!  All told, U.S. equity markets finally recorded this year’s second 10% correction from the high mark late September, before turning back up this week – but that’s not fully in yet. So, remember that uncertainty equals volatility. We continue to bet on more of the same through the mid-term elections next week.

  • All US equity benchmarks were down between 3-5.0% except for Equity REITS.
  • US REITS slipped just 1.0%

…And

  • Foreign REITS only dropped 1.25%
  • Commodities also skidded 1.0%
  • All Foreign Equities participated in the sell-off, dropping from 2.8 (Emerging Markets) to 4.5% (Small companies)

Fixed income once again generally benefitted from the stock sell off across the board.

  • Foreign Bonds inched up
  • Emerging Market Bonds remained flat
  • High Yield was mixed between Barclay’s and the Credit Suisse benchmarks
  • All other fixed income moved up from nearly a quarter to half a percent

Economic indicators continue to bode well with jobs and income showing significant strides. Trade talks with China may be moving toward some resolution later this month. Our short term crystal ball is screaming uncertainty over the mid-term elections. Until then, every tidbit of news about anything will continue to drive amplified volatility. We recommend, staying calm and stay tuned for next week’s Snippet post-election.

Have a great weekend!

Indexes are listed in respective order to their reference above:  DJ US TSM TR USD; FTSE NAREIT All Equity REITs TR; DJ Gbl Ex US Select REIT TR USD; MSCI EAFE NR USD; MSCI EM NR USD; MSCI EAFE Small Cap NR USD; FTSE WGBI NonUSD USD; BBgBarc EM USD Aggregate TR USD; Credit Suisse HY USD; Barclays US Corporate High Yield TR USD. These materials have been prepared solely for informational purposes based upon data generally available to the public from sources believed to be reliable. All performance references are to benchmark indexes. Performance of specific funds will vary from respective benchmarks. Past performance is not an assurance of future results. Each index cited is provided to illustrate market trends for various asset classes. It is not possible to invest directly in an index.