Vestor Capital Quarterly Commentary
April 5, 2019
Major world equity indexes have rebounded sharply in 2019. U.S. markets were led by the technology heavy NASDAQ composite index up 16%, followed by the large-cap S&P 500 index up 13%. Developed international and emerging market indexes were each up about 10% in the first quarter.
We believe that equity markets sold off in the fourth quarter of 2018 over future monetary policy tightening fears. In early 2019, monetary authorities in the U.S. and Europe walked back the prospect of future monetary tightening which has calmed investor fears. Investors now are more comfortable that the world wide economic expansion will not be derailed by monetary officials and are wading back into equities.
Continue Reading: Economic and Investment Outlook