The summer weakness in U.S. stocks was confined to just one month this year as the S&P 500 Index more than recouped its losses from July with a strong performance in August—up 4.0% for the month.
Overseas the foreign-based MSCI EAFE Index fell -0.1% in August. The loss was primarily driven by Japan, where we no longer have exposure. Europe, where we continue to hold some investment, was up 0.4%. Emerging markets continued their positive winning streak, advancing for the seventh month in a row—with a 2.3% gain in August. We continued to add to our position in emerging market stocks in August…
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