MARKET COMMENTARY

Minding Long-Term Priorities

In a quarter dominated by US equity markets and growth stocks, portfolios generally performed in line with their benchmarks. Review the highlights behind Q3 numbers.

09.30.2018 - Scott Guitard, Vice President, Portfolio Manager

Minding Long-Term Priorities

US equity markets were the main story for Q3. Global equities, driven primarily by US “growth” stocks, ended the period slightly higher, shrugging off international trade tensions and higher borrowing costs. The US Federal Reserve and Bank of Canada raised policy rates by 0.25%. These steps pushed short-term bond yields higher; however, long-term bonds rose less due to subdued inflation expectations.

In general, portfolios performed in line with their benchmarks as security selection-driven gains were offset by our underweight in US equities. Given ongoing themes such as high valuations and geopolitical uncertainty, as well as our focus on preserving capital, we currently expect the asset allocation to remain consistent for the final months of 2018.

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MARKET COMMENTARY

Global Bonds Now Part of the Mix

09.30.2018 Ian Riach, Chief Investment Officer

Ian answers questions about the strategic and tactical opportunities afforded by the Templeton Global Bond Fund and its recent introduction to our model portfolios.

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MARKET COMMENTARY

Going Their Separate Ways

09.30.2018 Ian Riach, Chief Investment Officer

Mounting evidence shows the world's markets and economies are heading in different directions.

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