EWM Weekly Capital Market Highlights for Week Ended 6/14/2019

By Financial Markets & Economy, Weekly Capital Market Updates
  • Stocks were flat for the week. Domestic equities, as measured by the S&P 500 Index, declined marginally and were essentially unchanged from the week before. Small cap stocks experience similar performance.
  • The yield on the 10-year US Treasury Note was unchanged. Yields on 10-year bonds ended the week where they started, at 2.08%. The yield curve for Treasurys remains inverted at the short end, with yields for 3-month and 6-month bills being above longer maturities out to 10 years.
  • Geopolitical concerns rise. Two oil tankers were attacked in the Persian Gulf this week, increasing tensions in the region.
  • China’s economy slows. For the month of May, China reported the slowest growth in its industrial output in 17 years.

Click here to download the complete weekly report: EWMWeeklyReview 6.14.19

Disclosure: Past performance is not necessarily indicative of future results.

Endowment Index™ Posts Slight Gain For Week Ended 6/14/2019

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,263.79 Friday, rising 0.17% from the previous Friday’s close of 1,261.66. The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

Endowment Index™ Posts 2.12% Gain For Week Ended 6/7/2019

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,261.66 Friday, rising 2.12% from the previous Friday’s close of 1,235.51. The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

EWM Weekly Capital Market Highlights for Week Ended 6/7/2019

By Financial Markets & Economy, Weekly Capital Market Updates
  • Stocks rallied, with the Dow breaking a six-week losing streak. This was the longest weekly losing streak since June 2011. Domestic equities outpaced international stocks, and emerging markets stocks trailed developed equities. Growth and value traded mostly in line, with both styles experiencing strong weekly gains.
  • The yield on the 10-year Treasury Note was lower, trading below 2.10% for the first time since 2017, and fell to 2.06% on Friday, from 2.14% the prior week.
  • World Bank lowers its outlook for global growth. The World Bank released a research report Tuesday, cutting its forecast to 2.60% for 2019 global growth, down from 2.90% previously, citing a slowdown in trade growth to the weakest level since the financial crisis.
  • ADP Employment Change reading at a three-year low. The monthly jobs report came in well below forecast, at just 27,000 jobs in May, the fewest number created since March 2010, and down from a revised 271,000 in April.

Click here to download the complete weekly report: EWMWeeklyReview 6.7.19

Disclosure: Past performance is not necessarily indicative of future results.

EWM Weekly Capital Market Highlights for Week Ended 5/31/2019

By Financial Markets & Economy, Weekly Capital Market Updates
  • Among equities, large caps trailed small caps slightly; growth stocks outperformed value stocks; international stocks beat US stocks; and developed markets underperformed emerging markets.
  • 10-year Treasury yield fell. The yield on the 10-year US Treasury Note slid to 2.17%, as a portion of the yield curve remains inverted, with the 3-month yield sitting at 2.34%.
  • Commodity indices overall had mixed returns for the week. Crude oil prices plunged towards the end of the week, with Brent Crude hovering around $65.
  • Dollar rose. The dollar jumped and the dollar index (DXY) closed at a level close to previous highs posted a month ago.
  • Among major economic data, jobless claims moved slightly higher, and mortgage applications are down 1.00% for the week.

Disclosure: Past performance is not necessarily indicative of future results.

Endowment Index™ Closes Lower For Week Ended 5/31/2019

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,235.51 Friday, declining 1.04% from the previous Friday’s close of 1,248.55. The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

EWM Weekly Capital Market Highlights for Week Ended 5/24/2019

By Financial Markets & Economy, Weekly Capital Market Updates
  • The yield on the 10-year US Treasury Note dropped to its lowest level since 2017, as the trade war has nervous investors seeking cover in safe havens. It fell below the yield on the 1-year for the second time this year, a warning sign of recession.
  • Oil prices were on track for their most significant weekly loss this year, with Brent crude oil set for a decline of more than 5%, although it recovered almost 1% in early trading on Friday.
  • Gold benefited from heightened trade tensions, rising above $1,280 per ounce, up 0.5% for the Week. The dollar moved lower on Friday, away from its two-year high, after weak manufacturing data and potential economic fallout from a trade war with China increased expectations for an interest-rate cut this year.
  • Within equities, all of the various market capitalizations and styles posted negative results for the week. Large cap held up the best, while small cap had the largest decline; value outperformed growth in most market capitalizations except for small cap value, which trailed the most; international slightly outperformed domestic stocks, and developed markets outperformed emerging markets.

Click here to download the complete weekly report: EWMWeeklyReview 5.28.19

Disclosure: Past performance is not necessarily indicative of future results.

Endowment Index™ Declines 0.75% for Week Ended 5/24/2019

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,248.55 Friday, declining 0.75% from the previous Friday’s close of 1,258.03. The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.