First Quarter 2026 Video Commentary
- Apr 22
- 1 min read
The quarter started on a strong note, with international and emerging market stocks building nicely on last year's momentum. Then, as you've likely seen in the headlines, the U.S. and Iran conflict that began at the end of February sent shockwaves through global markets in March, triggering an energy shock that continues to weigh on the economy today. The S&P 500 ended Q1 down -4.3%, while international stocks held positive at +2.0% and emerging markets at +3.8%. Gold was a standout, finishing the quarter up 8.57% and providing meaningful protection for your portfolio. Portfolios weathered the volatility well, ending Q1 down only -1.39%, absorbing less than half the drawdown of the broader equity markets. And as of April 16th, the representative portfolio has recovered and is back in positive territory, up approximately 1.3% for the year. While uncertainty around energy markets and geopolitical tensions continues, we remain focused on intelligent diversification to help navigate whatever comes next. In this quarter's video update, we review the action of the first quarter, and the adjustments we made to portfolios to help minimize volatility in these uncertain markets. Finally, we discuss why it is that the economy as experienced by you every day, may be feeling very different than the positive performance your portfolio has been enjoying. |