First Quarter 2016 Investment Report
The first quarter of 2016 saw its fair share of market volatility as investors debated whether the global economy was heading toward recovery or recession. In the first six weeks of the quarter, most investors feared the latter, as oil prices plunged into the $20’s per barrel, global stocks fell 10-15% and major central banks (Japan, Euro and China) cut key interest rates and increased their quantitative easing programs. These fears subsided as employment and manufacturing data improved and stocks and energy prices rallied in the back half of the quarter. Fortunately, client portfolios held up well with accounts posting solid returns on the back of high quality stocks.