Interest rates fell precipitously in the third quarter across all developed markets. The US 10- year treasury yield fell from 2.00% at the end of Q2 to a low of 1.45% in early September before closing the quarter at 1.66%. With equity markets largely stable,
Hedge Funds declined during the third quarter as the HFRI Fund-of-Funds Composite Index decreased by 1.1%. The sector underperformed during the quarter as global stocks experienced an uptick in volatility amid negative headlines in August regarding the U.S.-China trade war
Quarterly Commentary is a quarterly view of the equities, fixed income and hedge fund markets from our Family Management specialists.