Global markets experienced an up and down quarter but ended mostly positive.
In terms of U.S. economic growth, the quarter’s progress was complicated by severe winter weather that likely depressed some of the short-term indicators of the economy’s health.
Developed international stocks were flat, largely due to a sizeable decline in Japan.
Emerging markets have been beset by ongoing concerns about economic growth alongside macroeconomic instability in countries such as Ukraine (most recently) and Turkey.
Core bonds were among the quarter’s stronger performers, reinforcing the important role they play in a diversified portfolio. Municipal bonds were another bright spot in the quarter amidst improving economic health for states and municipalities.