April Commentary & Performance Review

April 2020 Stabilization After a severe shock to financial systems in March, global markets rebounded sharply in April.  Although the virus continued to spread, some countries saw infection rates begin to peak and now plans are being developed to strategically re-open...

March Commentary & Performance Review

March 2020 QE Plus As many of us speculate on the extent and duration of social distancing (a term we feel may be a contender for Merriam-Webster’s Word of the Year), governments and policy makers have been busy working to soften the substantial blow to the global...

January Commentary & Performance Review

January 2020 Start of Tumultuous Twenties One century ago, in January 1920, the League of Nations was officially inaugurated following the Treaty of Versailles, providing a forum for resolving international disputes. This was the foundation for the organization we now...

December Commentary & Performance Review

December 2019 2019 Wrap Up Whether assisted by a Santa Clause Rally or the announcement of a Phase 1 trade deal, the S&P 500 finished 2019 up 30% (total return in local currency), an impressive feat for a “late cycle” market. The annual returns were spurred on by...