Winter 2016
Market Outlook – Market returns have remained in line with our expectations thus far in 2015 as total returns have remained positive across most sectors. While U.S. equities have outperformed their bond counterparts through November, single digit absolute returns are well below recent and historical levels. With increased volatility expected next year, we forecast the U.S. market to earn similarly low return levels yet again in 2016.
Summer 2016
Market Outlook – As we entered 2016, our outlook called for higher volatility and a wider range of potential market returns. That expectation has played itself out fairly well as the U.S. bond and equity markets have weathered significant volatility to post solid year-to-date returns.
