Markets took investors on an up-and-down ride during a volatile first half of the year, with notable swings coming amid uncertainty about the impact of tariffs on the US and the global economy. In the US, while the S&P 500 hit new highs in February, it also posted sharp falls in April, before rebounding in May to end slightly higher as of June 20.1 In a reversal of trends in recent years, developed international equity markets outpaced the US, as did emerging markets (see Exhibit 1). The US Federal Reserve held interest rates steady, citing risks of higher inflation and a rise in unemployment. In the bond market, US Treasuries were higher, with the benchmark 10-year yield just below 4.3%.
INVESTMENT PRINCIPLES, ASSET ALLOCATION, MARKET VOLATILITY

Investing, like a roller coaster, has its ups and downs. One minute you’re climbing higher and the next a sudden decline makes your stomach drop. A few reminders can help investors to relax amid the turbulence.
EQUITY INVESTING, MARKET VOLATILITY

Stocks turned up the volatility to 11 in April.1 The decline of –10.5% over April 3–4 was the worst two-day stretch for the S&P 500 Index since March 12, 2020. Then, on April 9, the index gained 9.5%, the third-largest one-day return since 1987.
EQUITY INVESTING, INVESTMENT PRINCIPLES

Every January, many of us commit to resolutions like eating healthier or exercising more, but a lot of us fall short of sticking to them—because lifestyle change is hard. Improving success in most areas of life demands increased effort and action. But investing is different in a way many of us have a hard time accepting: Doing less often means ending up with more.

Combining an enduring investment philosophy with a simple formula that helps maintain investment discipline can increase the odds of having a positive financial experience.
EQUITY INVESTING, INVESTMENT PRINCIPLES

Investor Education

Ready to get started?