Smart Money Insights: Weekly Brief July 19

A Tenuous Recovery in European Markets Markets have rebounded following the momentous Brexit vote in the U.K. on June 23rd. The S&P 500 and the MSCI EAFE have both rallied over 8% since June 28th. Despite the post-Brexit rebound, the Wall Street Journal has pointed out that investors are fleeing European equity funds. Approximately $9.7BN has been redeemed in the two weeks following the Brexit vote, which marked the 22nd consecutive week of outflows from European equities and approximately $54BN has been redeemed year-to-date according to the Journal. All of this suggests that investors have come to view European economic …

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Smart Money Insights: Weekly Brief Mar 14

The widespread reversal of losses through mid-February continued over the past week. The S&P 500 rose 3% and is up over 10% from the trough. Oil closed above $38 per barrel, up over one third from the lows and close to flat YTD. Emerging market stocks were up 9% on the week and are now up 3% this year. The most important, and least understood, event last week was the market’s reaction to the ECB’s significant expansion of quantitative easing. In addition, MLP investors got some bad news and many investors are starting to focus on the severity of Italy’s …

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