- All three major U.S. stock indices continued their upward trend in February. The S&P 500 gained 2.9%, the Dow Jones Industrials gained 3.4%, and the Nasdaq Composite gained 3.7%. Non-U.S. stocks also rose. The MSCI EAFE Index rose 3% and the MSCI Emerging Markets index rose 1%.
- Treasury note yields rose slightly and across maturities in February maintaining a relatively flat but still positively sloped yield curve with the 2-10 year note spread widening by 2 basis points (0.02%) to 20 basis points (0.2%).
- The CBOE Volatility Index or VIX continued to trend down in February falling one point and ending the month at 15. The VIX began the year at 25, having recently peaked December 24, 2018 at 36. The VIX, often referred to as the “fear gauge”, is a popular measure of the stock market’s expectation of volatility. The VIX has averaged 14 over the past 3-year period.
Disclosure: This commentary reflects the opinions of Welch & Forbes based on information that we believe to be reliable. It is intended for informational purposes only, and not to suggest any specific performance or results, nor should it be considered investment, financial, tax or other professional advice. It is not an offer or solicitation.
If you would like to receive your copy of the Economic Outlook and Investment Review monthly in the mail, call Ed Sullivan, Vice President, at 617-557-9800, or email him at firstname.lastname@example.org.
Make sure to bookmark our Perspectives webpage so you can stay up to date with the most recent weekly Welch & Forbes insights, announcements, and content. To receive our monthly email digest, simply enter your email address in the banner on this page.
Access your complimentary Wealth Planning Suite
Includes your √ Initial Consultation √ Portfolio X-Ray© √ Estate Plan Review √ Financial Plan
Estate Plan Review
*There is no fee for the Initial Consultation or Portfolio X-Ray© for prospective clients. Portfolio X-Ray© is a Morningstar product that Welch & Forbes maintains a license for its use. The Estate Plan Review and Financial Plan are provided only to clients.