Massive short-term volatility hit global stock markets in late August following the Chinese currency devaluation earlier in the month. Most stock markets around the world ended the third quarter in negative territory, with the MSCI All Country World Index falling nearly 10%. U.S. large cap stocks held up better than other risk assets, experiencing only mid-to-high single-digit declines, while the drop in small cap and non-U.S. equities was in the double digits.
Arguably the two biggest events this quarter were the Chinese currency devaluation and the decision by the Fed to hold rates steady for the time being. Although not readily apparent on the surface, in our opinion, the two events were connected, or perhaps the former led to the latter...
Fund Evaluation Group offers dynamic managed portfolios for your clients.
Fund Evaluation Group offers dynamic managed portfolios for Institutions.
Fund Evaluation Group (FEG) offers advisors access to alternative investment strategies through FEG Managed Portfolios.