Third Quarter Newsletter

Updated: Oct 18, 2018

Here's a snapshot of what has gone on in the third quarter of this year.


CHECK OUT THE BLACKDIAMOND THIRD QUARTER MARKET REVIEW HERE



US Market

  • The US equity market posted a positive return, outperforming both non-US developed and emerging markets.

  • Value underperformed Growth in the US across Large and Small Cap stocks.

  • Small Caps underperformed Large Caps in the US.

Developed Markets

  • In US dollar terms, developed markets outside the US underperformed the US, but outperformed emerging markets during the quarter.

  • Large Cap Value stocks underperformed Large Cap Growth stocks in non-US developed markets, however Small Cap Value outperformed Small Cap Growth.

Interest Rates

  • Interest rates increased in the US during the third quarter. The yield on the 5-year Treasury note rose 21 basis points (bps), ending at 2.94%. The yield on the 10-year Treasury note increased 20 bps to 3.05%. The 30-year Treasury bond yield rose 21 bps to 3.19%.

  • On the short end of the yield curve, the 1-month Treasury bill yield increased 35 bps to 2.12%, while the 1-year Treasury bill yield rose 26 bps to 2.59%. The 2-year Treasury note yield finished at 2.81% after an increase of 29 bps.

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