Leigh Lowman, CFA, Investment Manager
On this week’s podcast (recorded November 9, 2018), Leigh provides a brief review of the October markets.
- It was a rough start to the fourth quarter as increasing concerns over the “wall of worry” led to risk assets suffering a sharp drawdown in October.
- Despite these negatives, US fundamentals remained solid with third quarter US real GDP growth coming in at 3.5% and unemployment at a record low.
- The S&P 500 Index was down -6.8% for the month, bringing the year to date gain down to 3.0%
- Developed international equities, as measured by the MSCI EAFE Index, were down -8.0% for the month and -8.9% year to date.
- The Bloomberg Barclays US Aggregate Index was down -0.8% for the month and is down -2.4% year to date.
- Despite the October sell-off in equity markets, we remain positive on risk assets over the intermediate term.
The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a registered investment advisor.