capital markets commentary

Market Update as of April 26, 2020

April 2020

With heightened market volatility and significant news flow over the past week, Ellwood shares a brief, high-level observations on the investment environment for the week of April 9, 2020.

Market Update as of April 9, 2020

April 2020

With heightened market volatility and significant news flow over the past week, Ellwood shares a brief, high-level observations on the investment environment for the week of April 9, 2020.

Capital Markets Update Q1 2020

April 2020

In what feels like a distant memory, the first quarter of 2020 began on a positive note, with the S&P 500 rising to a record high on February 19. Markets quickly retreated as investors digested the impact of COVID-19 on the global economy. The S&P 500 plummeted, losing 34% in 23 trading days, the fastest decline of that magnitude in history. Global central banks and governing bodies responded quickly, injecting historic levels of monetary and fiscal stimulus which pared losses.

Market Update as of March 29, 2020

March 2020

With heightened market volatility and significant news flow over the past week, Ellwood shares a brief, high-level observations on the investment environment for the week of March 29, 2020.

Market Update as of March 22, 2020

March 2020

With heightened market volatility and significant news flow over the past week, Ellwood wanted to share brief, high-level observations on the investment environment from Ellwood's Capital Markets Committee.

Trying to Understand Recent Market Volatility

March 2020

The title of this piece, Trying to Understand Recent Market Volatility, suggests a lofty goal, and one that is not likely possible at a time such as this. So, let us first express an element of humility and say that we are highly uncertain about what is to come. There is no magic Investing in a Pandemic playbook that will provide us answers. We can only rely upon our understanding of markets and make judgements accordingly.

Market Update: March 11, 2020

March 2020

Markets had been on edge since the Coronavirus started rapidly spreading outside of China. Then on Saturday, March 7, following a breakdown in negotiations of supply reductions between the OPEC and Russia, Saudi Arabia signaled a willingness to ramp up production by slashing its selling price for crude oil. The news surprised investors, sending markets tumbling on the following Monday. Market sentiment remains erratic, jostling between hopes that central banks and governments will provide stimulus to ease economic stress and anxiety over the length and depth of the virus-related slowdown.

Coronavirus: Investment Implications

February 2020

On January 10, 2020, China’s state media agency reported the first known death from a new strain of virus that had infected people during December 2019. Markets had little reaction to the news, as anticipation over the signing of a Phase-1 trade deal between the U.S. and China was top-of-mind for investors.

The Decade in Review: 2009-2019

February 2020

It was a strong decade in the U.S. The 10-year span from 2010–2019 saw an unprecedented bull market, and no clear sign of recession. With large-cap U.S. equities dominating all other asset classes, investors in U.S. equities reaped the rewards. But the story veered from this narrative elsewhere in the world, where returns were more modest. To inform your investing perspective, what follows is a recap of the highs and lows of the past decade, globally.

2020 Investment Outlook

January 2020

On an annual basis, Ellwood’s Capital Markets Committee evaluates the risk and return potential for each asset class within the anticipated economic environment.