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Reinhart Week in Review by Madison Investments 10.18.2024

September retail sales outpaced expectations, the People’s Bank of China detailed its measures to stabilize equity prices, and hospital municipal bond issuance is surging. Read what Reinhart Fixed Income thinks these events could mean for markets in their Week in Review

Q3 2024 Market & Economic Review

Download our quarterly communication with market and economics charts, and commentary on events of the previous quarter.

Monthly Market Update - October 2024

The stock market opened the month of September with a sharp reality check, falling for four consecutive days before quickly reversing course to reach new all-time highs. The largest catalyst was the Federal Reserve's 50 basis point cut on September 18. The S&P 500 Index was up 2.1% for the month, taking the third quarter return to 5.9% and the year-to-date to a buoyant 22.1%. Meanwhile, bond investors also fared well, with the Bloomberg U.S. Aggregate Bond Index up 1.3% in September.

The U.S. Debt Challenge: A Few Thoughts on Our National Debt and Deficits

Fueled by rising interest costs and mandatory spending, the $1.9 trillion deficit in 2024 is projected to climb to $2.8 trillion per year by 2034. Our fixed income team discusses what these fiscal challenges could mean for the economy and markets.

Monthly Market Update - September 2024

Americans with a stake in the stock market were once again rewarded in August, with the S&P 500 Index rising 2.4% for a year-to-date return of 19.5%. Bond investors were also pleased as medium and long-term interest rates dropped. Unlike much of the trailing year, stock returns were broad, outperforming results for the market-leading “Magnificent 7” stocks. These returns contributed to a boost in consumer confidence in August. Additionally, Fed Chairman Powell basically announced a pivot to lower rates beginning in September.

Monthly Market Update - August 2024

July was a month of twists and turns -- and not just in presidential politics. Within the markets, the byword was rotation as large tech faltered and small and mid cap stocks revived. It took a final day rally to push the S&P 500 positive, rising 1.2% for the month, bringing the year-to-date return to 16.7%. After years of underperformance, small stocks leaped to the head of the class, with the Russell 2000 rising 10.2%, constituting the bulk of the index’s 12.1% year-to-date advance.

2024 Mid-Year U.S. Equity Letter from Haruki Toyama

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.