David Cohen

Despite a banking crisis that occupied the attention of the financial world in April, the broad securities markets turned in a ho-hum performance during the month. The Core Large Cap Equity category delivered a 0.9% return, driven by strong returns in dividend-paying equities. Meanwhile, the Core Fixed Income category generated a 0.6% return in April.

The broad securities markets enjoyed a strong March, with equity and fixed income markets alike delivering healthy returns. The Core Large Cap Equity category delivered a 7.3% return for the month, powered by a rebound in beaten-down large-cap technology stocks. Meanwhile, the Core Fixed Income category generated a 2.6% return in March, benefitting from reduced inflation expectations and declining interest rates.

After a strong rally in January, both equity and fixed income markets took it on the chin in February. The Core Large Cap Equity category returned -4.0% as the Federal Reserve’s monetary tightening policy drove concerns about a potential economic slowdown. On the fixed income side, ongoing inflation concerns pushed interest rates higher, dragging the Core Fixed Income category to a -2.8% return.