Market Commentary

The third quarter of 2018 could be best compared to that of a whipsaw. After a challenging second quarter, markets rebounded in July only to give-way to a hectic and disorderly sell-off in August, due in large part to the high beta space.

The third quarter of 2018 kicked off the second half of the year with high yield continuing to be a strong performer amongst fixed income markets, as many of the same macro issues that have been discussed this year remained in place.

The third quarter featured solid returns for risk assets, as continued strength from the U.S. economy outweighed escalating trade tensions between the U.S. and China, Italian budgetary concerns, and further withdrawal of central bank accommodation.

The third quarter featured solid returns for risk assets, as continued strength from the U.S. economy outweighed escalating trade tensions between the U.S. and China, Italian budgetary concerns, and further withdrawal of central bank accommodation.