For over two decades Vogel Consulting has been offering wealth management services to family offices across the country. Recently, Vogel Consulting published a report discussing the market’s performance in the second quarter of 2018. Here are a few details:
-Equities
US equity indices were high at the close of the quarter despite suffering a few tumbles along the way. NASDAQ hit record highs, so did the Russell 2000 index. These gains were attributed to the good performance of tech and small cap stocks.
Across the Atlantic, European equity markets were weak and Japanese markets exhibited the same softness seen in the first quarter. Emerging market equities were down during the period, hurt by trade tensions and a strong dollar.
-Fixed income
Bond returns in the United States were negative because of rising yields born from the anticipation of a tighter monetary policy.
-Monetary policy
The US Federal Reserve raised interest rates 0.25 percent. The Fed forecasted further rate hikes in the future. In Europe, the European Central Bank stated it would stop buying bonds by year-end.
-Overall economy
The US economy showed positive growth buoyed by the well-performing service and manufacturing sectors, and an improving labor market. Retail sales and housing starts remained up.
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