Capital Commentary is a quarterly view of the equities, fixed income and hedge fund markets from our Family Management specialists: Jonathan Horn, Daniel Erben, and Jason Nardis.
U.S. equity markets continued their gains during the second quarter of 2017 with the S&P 500 up 3.09%, lifting returns to 9.34% year to date.
Hedge funds extended their trend in the second quarter of 2017 as the HFRI Fund-of-Funds Composite Index rose by 0.2%.
The Fed struck again and raised rates 25 basis points at its June meeting, with the potential for another rate increase in the second half of 2017.
The Fed hiked rates at its March meeting, but the pace of future rate increases will be dependent on economic data and fiscal policy going forward. The FOMC voted to raise the target range of the federal funds rate to between .75%and 1.00% on March 15th.