Winter 2017
Market Outlook – PMA’s outlook called for higher volatility and a wider range of potential market returns during 2016. Our expectations came to fruition on a number of fronts this year as volatility was certainly back in vogue.
Summer 2017
Market Outlook – As we entered 2017, our outlook called for limited returns in the U.S. fixed income market with higher prospective returns for U.S. equities. Continued low interest rates, an improving global economy, stronger corporate earnings projections and the potential wildcard of President Trump’s policy initiatives were supportive of our outlook. Thus far in 2017, market returns have surpassed our full year estimates despite weaker U.S. economic performance, large increases in short term interest rates and the lack of progress on policy initiatives due to a quagmire of investigations related to Russia’s involvement in the 2016 election.
