News & Resources
April 15, 2012
Equities Strong during First Quarter
The S&P 500 Stock Index has gained 12.7%, including dividends, so far this year. Conversely, the Barclays Intermediate U.S. Treasury Bond Index has declined by 0.5% during the first quarter.
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Equities had a strong upward move during the first quarter, as the U.S. economy appeared to be strengthening and global troubles eased somewhat. The durability of the market’s gains remains tentative, as economic indicators were not as strong at quarter end as they had been earlier in the year, and European economic worries again reared its head. Corporate earnings and balance sheets remain strong, lending support to stock prices going forward. Bond values declined this quarter, after many years of strong gains. Fixed income yields remain near historical lows, which also make equities a bit more attractive. Global risks remain on the horizon, so we continue to be judicious as we look for market opportunities.