The Quarterly Statement: Q4 2016
As we begin 2017, we pause to reflect on what transpired in the market over the last quarter and year. Among concerns of an economic slowdown in China, the U.K.’s vote to leave the E.U., the U.S. presidential election, and speculation of global monetary policy action, uncertainty and headline risk were the dominant themes in 2016. However, fourth-quarter and year-to-date returns seem to suggest market normalcy, with the S&P 500 up 3.8% for the quarter and 12.0% for the year.
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