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Quarterly Considerations – 06/30/2014
- Global equity markets continued their march forward with some reaching new highs despite relatively lackluster economic news in the second quarter. The S&P 500 Index closed the quarter up 5.2%, finishing ahead of smaller domestic peers. International markets also advanced with emerging markets leading the way. The MSCI EM Index advanced 6.7% for the quarter after posting negative results in the first quarter.
- Despite the Federal Reserve tapering bond purchases, fixed income markets broadly posted positive returns for the quarter. The JPMorgan GBI-EM Global Diversified Index advanced on the back of positive news including rising Chinese factory activity and favorable election results in India.