2nd Quarter – Market Commentary

Disaster is Not Imminent

It would be easy to characterize the second quarter as a disappointment, but in many ways the market was simply working off the excesses of the beginning of the year. By the end of the first quarter, the S&P 500 was on pace to be up over 40% for the year, an unsustainable rate of growth considering high levels of unemployment and tepid GDP growth. It shouldn’t have been much of a surprise that the second quarter would slow down. The market gave up a little over 4.00% to remain up 8.31% for the year. In the chart below we have included both year-to-date as well as second quarter returns to show the retreat that most asset classes experienced.

Click Here to Read our 2nd Quarter Market Commentary 

The Canal Global Benchmark is a composition of indices weighted accordingly: 40% S&P 500, 20% MSCI EME, 15% MSCI EAFE, and 25% Barclays Aggregate Bond Index. We feel that this more accurately characterizes the risk and return profile of a well-diversified passive investor

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