MARKET UPDATE: PRE-ELECTION INSIGHTS
Both equity and fixed income markets broadly moved higher throughout the 3rd quarter, building on a strong firsthalf.
•Large cap value stocks, small cap stocks, and international markets emerged as the standout performers,contrasting with trends seen in the first half of the year, where US large cap growth stocks dominated.
•The market rotation in the 3rd quarter is a welcome sight and is a positive for the overall health and continued strength ofthe stock market. We have highlighted the need for broader market participation and have positioned portfolios for thisreality.
Election Time
•As we enter the 4th quarter, our focus turns to the election and its impact on the longer-term market trajectory.While rhetoric has grabbed headlines to this point, the conclusion to the election will allow us to fully evaluate whatthe next 2 years of fiscal policy will look like.