Investment Review - April 2026
- Investors pressed the pause button in March as an escalating conflict in Iran, tepid economic data, and ongoing concerns over the disintermediation risk of AI led to broad declines across equity indices. The Nasdaq, Dow, and S&P all experienced losing months, down 4.8%, 5.4% and 5.1% respectively. Energy was the lone sector with a positive return for the month, appreciating 10.3% on surging oil, while industrials (down 8.5%) and healthcare (down 8.3%) were the biggest laggards.
- Two and Ten-Year U.S. Treasury yields moved meaningfully higher over the course of March, increasing 0.40% and 0.36% to end the month at 3.79% and 4.32% as markets continued to price in the risk of oil-driven inflation.
Key Investment Statistics
Sources: FactSet, Dow Jones Publishing, Bloomberg, Bureau of Labor Statistics, S&P Global, U.S. Bureau of Economic Analysis, Commerce Department, U.S. Federal Reserve
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