Markets Springing Ahead, not Springing a Leak

Douglas Cote

Douglas Coté, CFA

Senior Portfolio Manager, Head of Global Perspectives

During the first quarter of 2019, a field of green across the board replaced the steep market declines of 4Q18. Double-digit equity returns rewarded investors in U.S. and international markets alike.

  • Slowing global economic growth is a function of the eighth fed funds rate increase in two years
  • Now that the Federal Reserve seems on hold, markets have breathed a sigh of relief
  • Fundamentals tell us the market backdrop is strong, not so dire as portrayed in some media
  • It seems “bear market” concerns have shifted to fear of missing a continuing rally

Diversification does not guarantee a profit or ensure against loss

This commentary has been prepared by Voya Investment Management for informational purposes. Nothing contained herein should be construed as (i) an offer to sell or solicitation of an offer to buy any security or (ii) a recommendation as to the advisability of investing in, purchasing or selling any security. Any opinions expressed herein reflect our judgment and are subject to change. Certain of the statements contained herein are statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (1) general economic conditions, (2) performance of financial markets, (3) interest rate levels, (4) increasing levels of loan defaults (5) changes in laws and regulations and (6) changes in the policies of governments and/or regulatory authorities.

The opinions, views and information expressed in this commentary regarding holdings are subject to change without notice. The information provided regarding holdings is not a recommendation to buy or sell any security. Fund holdings are fluid and are subject to daily change based on market conditions and other factors.

Past performance is no guarantee of future results.