commentary
Understanding the Complexities of Insurance Investment Management
Just as with individual investors, pension plans, non-profits and other institutions, insurance companies turn to the capital markets to pursue and secure their future financial stability and viability.
Read MoreMonthly Market Update - April 2024
A strong and broad stock market in March added up to one of the best first quarter returns of the past decade, with the S&P 500 Index advancing 3.2% for the month and 10.6% for the quarter. The S&P 500 set numerous new closing highs, including one on the final trading day of March. This rally was largely a continuation of the bull market of 2023, driven by a stronger-than-expected economy, solid corporate earnings, expectations of Federal Reserve easing, and moderated, if somewhat sticky, inflation.
Read More2023 Year-End U.S. Equity Letter from Haruki Toyama
The U.S. stock market had a good year in 2023. The S&P 500 Index recovered all of its 2022 decline, and slightly more, ending the year up 26.3%. The story of the year was the glaring concentration of returns in the Magnificent Seven, as the press has dubbed them. These seven megacap technology stocks returned an average of 111.7% for the year, accounting for well over half of the total return of the S&P 500.
Read MoreQ4 2023 Market & Economic Review
Download our quarterly communication with market and economics charts, and commentary on events of the previous quarter.
Read MoreQ3 2023 Market & Economic Review
Download our quarterly communication with market and economics charts, and commentary on events of the previous quarter.
Read More2023 Mid-Year U.S. Equity Letter from Haruki Toyama
We are halfway through 2023, and so far the U.S. stock market has continued its rebound from last year’s decline. The S&P 500 Index remains about 5% below its peak reached in January of 2022, so it hasn’t quite yet recovered all of its lost value, but as usual, the market averages don’t always tell the whole story.
Read MoreQ2 2023 Market & Economic Review
Download our quarterly communication with market and economics charts, and commentary on events of the previous quarter.
Read More2022 Year-End U.S. Equity Letter from Haruki Toyama
The U.S. stock market suffered one of the worst annual losses in its history, with the S&P 500, Russell Midcap, and Russell 2000 declining -18.11, -17.32%, and -20.44%, respectively. Headlines point to many culprits, but higher interest rates dominate the conversation. We’ve had four decades of declining interest rates; it’s no coincidence that with rates rising sharply this past year, the S&P 500 Index had its third worst year in the past 40 years.
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“Madison” and/or “Madison Investments” is the unifying tradename of Madison Investment Holdings, Inc., Madison Asset Management, LLC (“MAM”), and Madison Investment Advisors, LLC (“MIA”). MAM and MIA are registered as investment advisers with the U.S. Securities and Exchange Commission. Madison Funds are distributed by MFD Distributor, LLC. MFD Distributor, LLC is registered with the U.S. Securities and Exchange Commission as a broker-dealer and is a member firm of the Financial Industry Regulatory Authority. The home office for each firm listed above is 550 Science Drive, Madison, WI 53711. Madison’s toll-free number is 800-767-0300.
Any performance data shown represents past performance. Past performance is no guarantee of future results.
Non-deposit investment products are not federally insured, involve investment risk, may lose value and are not obligations of, or guaranteed by, any financial institution. Investment returns and principal value will fluctuate.
This website is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.
Any performance data shown represents past performance. Past performance is no guarantee of future results.
Non-deposit investment products are not federally insured, involve investment risk, may lose value and are not obligations of, or guaranteed by, any financial institution. Investment returns and principal value will fluctuate.
This website is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.