Stocks were split globally in March with the S&P 500 gaining 0.8%, while foreign stocks as measured by the MSCI EAFE Index fell -0.6%. However, both indices managed small gains in the first quarter, up 1.8% and 0.8%, respectively.
Thanks to rising tensions between Russia and Ukraine, European stocks pulled back by -4.0% in the first few weeks of March. However, as history has often demonstrated, geopolitical risk is often digested quickly by investors and therefore typically short-lived. That proved to be the case this time, with the MSCI Europe Index recovering quickly during the last week of March to post a loss of just -1.0% for the month. Because we see last month’s weakness as transitory, we continue to favor European stocks…
Please watch the video below for our complete Market Analysis