November proved to be a huge month for investors, as global stocks and bonds registered returns of 9.23% and 5.04%, respectively. All three major U.S. stock indexes increased at least 8% during the month, a welcome rebound from the previous three months of declines. Domestic bonds returned 4.5% for the month … the biggest one-month advance since the mid-1980s.
Domestic stock markets took a step back in April, with all three major U.S. indexes snapping five-month winning streaks. Overall, U.S. stocks were down about 4% for the month, but they remain up by just over 5% year-to-date. Foreign equities, which declined by 1.8% in April, have returned 2.8% during the first four months of 2024.
The vacancy rate for U.S. office-buildings was at 11% before Covid-19. According to real-estate consulting firm Colliers, vacancy rates have risen to 17% today, which is higher than at any time during the 2008 global financial crisis.
Global stock markets delivered solid returns in March, closing out a very strong first quarter for investors. The S&P 500 index of domestic “blue chip” stocks gained 10% for the quarter and recorded 22 all-time closing highs along the way. U.S. stock returns were broad-based, as 10 out of 11 S&P sectors registered gains.
Global stocks returned 4.3% in February and are now up 4.9% over the first two months of 2024. Year-to-date, domestic and foreign equities have delivered returns of 6.6% and 1.5%, respectively. All three major U.S. stock indexes are now on a four-month winning streak. The technology-heavy Nasdaq Composite Index closed at a record high on the last day of the month. It was the first record high for the Nasdaq since November 2021 … a streak that lasted 569 trading days.
U.S. stock values increased approximately 1% in January, for a third consecutive month of gains. Foreign equities actually declined by about that same amount. The yield on the benchmark 10-year U.S. Treasury ended the month at 3.96%, just slightly higher than where it started the year. Overall, it was a relatively quiet month for investors, with global stocks eking out slight gains against modest losses for global bonds.
In its triannual survey, the Federal Reserve reported 58% of U.S. households owned stocks in 2022. (Note that stock ownership includes exposure through shares held directly, as well as those owned indirectly through funds, retirement accounts and other managed platforms.) The study’s results were significantly higher than the 53% ownership level recorded in the 2019 review. It also marks the highest level of stock-ownership by U.S. households ever documented by the survey.
Global stocks had another strong month with returns of nearly 5% during December. In the fourth quarter alone, domestic and foreign stocks rocketed 12.07% and 9.75%, respectively. Global bond markets also delivered strong returns, advancing 4% in December and 8% for the quarter.
November proved to be a huge month for investors, as global stocks and bonds registered returns of 9.23% and 5.04%, respectively. All three major U.S. stock indexes increased at least 8% during the month, a welcome rebound from the previous three months of declines. Domestic bonds returned 4.5% for the month … the biggest one-month advance since the mid-1980s.
Global stock markets declined 3% during October. It was the third straight month of losses for equity markets, with declines over this period reaching almost double-digit levels. Year-to-date, global stocks remain up by 6.75%, with most of the gains coming from domestic equities. However, foreign stocks have advanced 12.07% over the past twelve months … outpacing the 8.49% return of their U.S. counterparts.
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