BCM 1Q 19 Market Commentary

April 20, 2019 | COMMENTARY

Sources and Disclosures:

1Mathew Bartolini, CFA, “March ETF Flows: The Market’s Fast Break Offense, is it Sustainable?”, SPDR® Blog, April 4, 2019
2 Id.
3 FactSet, Federal Reserve, JPM Asset Management Guide to the Markets 3/31/19.

 

 

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This material is for informational purposes only. It is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument, nor should it be construed as financial or investment advice.

 

The information presented in this report is based on data obtained from third party sources. Although it is believed to be accurate, no representation or warranty is made as to its accuracy or completeness.

The Standard & Poor’s (S&P) 500® Index is an unmanaged index that tracks the performance of 500 widely held, large-capitalization U.S. stocks. The Bloomberg Barclay’s U.S. Aggregate Bond Index, which used to be called the “Lehman Aggregate Bond Index,” is a broad base index and is often used to represent investment grade bonds being traded in United States. The Morgan Stanley Capital International All Country World Index Ex-U.S. (MSCI ACWI Ex-U.S.) is a market-capitalization-weighted index maintained by Morgan Stanley Capital International (MSCI). It is designed to provide a broad measure of stock performance throughout the world, with the exception of U.S.-based companies. The MSCI All Country World Index Ex-U.S. includes both developed and emerging markets.

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The performance of any ETFs, as contributors of detractors to the strategy, are provided on a gross basis. An Exchange Traded Fund (ETF) is a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange. ETFs experience price changes throughout the day as they are bought and sold. All BCM strategies invest only in long-only ETFs.

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