BCM UPDATES We're fast approaching that most wonderful time of the year, the Holiday season. It is a time to give thanks and to appreciate our blessings. At BCM that always includes recognizing our clients, families, and friends who invest their trust and confidence in us everyday. It is both a privilege and honor to … Continue reading Q4 2026 Update
At the end of the first quarter, the wall of worry was high. Global stocks were down, oil was spiking, and the shadow of the newly erupted war in Iran had investors bracing for a broad drawdown. Cautious positioning seemed not just prudent, but necessary. Q2 delivered a textbook reminder of how quickly markets and … Continue reading Q3 2026 Update
At year-end 2025, consensus expectations were for a continued rally in risk assets. The economy was growing, earnings were beating estimates, and stock markets were making new highs. Investors were optimistic, and equity analyst forecasts for the S&P 500 ranged from 7100 to 8100, predicting another double-digit year. One quarter doesn't make a year, but … Continue reading Q2 2026 Update
Financial markets continue charging higher as we head into Q4 2025. As of Q3 end, global equity market prices were up +18% (ACWI) and U.S. bond market prices advanced +3% (AGG) YTD. Gold remains the big outperformer, with YTD price up by +45% (GLD)! Global Markets Q3 2025 YTD MACRO VIEW Economic conditions have been … Continue reading Q4 2025 Update
It's been a fast moving year for the markets and solidly positive overall. Yet, despite wide swings in both directions, markets ended the quarter close to where they were back in February. Year-to-date, global stock prices are up +9.7%. US bond prices are up +2.4%. Gold continues to lead, up +24.1% YTD. Global Markets MACRO … Continue reading Q3 2025 Update
After a strong rally in 2024, global stock prices saw a pullback in February and ended Q1 with a decline of -0.8%. U.S. stocks lagged for the first time in a while, and prices were down -4.3% for the quarter. Foreign stocks stayed positive, while gold outshined and was up +17.4% year-to-date. Global Markets Q1 … Continue reading Q2 2025 Update
The third quarter was an eventful one for markets. After a strong first half, the global stock market lost half its year-to-date gains in August. However, stocks recovered and ended Q3 near new highs for the year. The U.S. bond market was negative for most of the year but finally turned positive in Q3. Gold … Continue reading Q4 2024 Update
The global equity market continued its upward trend in Q2, albeit at a subdued pace versus Q1. Global stocks are up +11.5% year-to-date as of Q2 end (represented by ACWI below), with U.S. big tech still leading the way. Gold held onto its gains, up +12.9% through Q2, while the bond market remained a laggard. … Continue reading Q3 2024 Update
The global equity market advanced another +9% in Q1 2024 (represented by ACWI below). U.S. stocks led the way, again. The U.S. bond market (AGG) prices fell -2% over the same period. Gold prices (GLD) moved sideways for much of the quarter but jumped almost +10% in February. The biggest headline in Q1 was Bitcoin … Continue reading Q2 2024 Update
Markets moved lower in Q3 and off their highs reached in July. The global stock market was down -3.95% in the quarter (ACWI). Meanwhile, the U.S. bond market was down -3.63% over the same period (AGG). Economic indicators were mixed as the U.S. economy continued to search for a definitive direction. Global Markets Q3 2023 … Continue reading Q4 2023 Update
OVERVIEW Q2 saw a continuation of the rally in global risk assets from the lows of Q4 2022. The global stock market (ACWI)was up +13% year-to-date as of June 30 while the U.S. bond market was nearly flat at +0.4% (AGG). The bulls are in the driver's seat but bumps remain in the road ahead. … Continue reading Q3 2023 Update
OVERVIEW 2023 got off to a blazing start. Global stocks were up more than 7% in Q1. That combined with some better-than-expected economic data has investors hopeful that the tide has turned on the bear market of 2022. However, there was no shortage of volatility during the quarter. And if Q1 was indicative of things … Continue reading Q2 2023 Update
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