While the economy remains on solid footing, volatility returned to its historic levels in Q1. This resulted in slight market declines during the quarter, giving earnings a chance to catch up with prices and alleviating some of the market’s potential overvaluation. Key takeaways include:
- All major equity markets were down for the quarter, with the S&P 500 down 0.7%, small caps down 0.1% and international equities down 1.0%.
- Valuations improved but are still worth watching as companies report earnings.
- Steady economic growth combined with solid earnings expectations remain intact.
- Our Behavioral Market Barometers are in normal expected return ranges.
For portfolio-specific commentary, click on the links below.
We appreciate your continued support. As always, please don’t hesitate to call if you have any comments, questions or need anything.
The Athena Team
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