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Fourth Quarter, 2020

After a year full of surprises, including remarkable stock market performance around the globe, we are positioning portfolios somewhat defensively. Learn where our thematic research is leading us in 2021.

Third Quarter, 2020

Despite the pandemic-related fall-off in February and March, the S&P 500 recently hit an all-time high. With a difficult-to-predict economic outlook, what’s next for equity markets? Read our investment update for our perspective.

First Quarter, 2020

We are in the midst of a healthcare crisis and a financial crisis. The combination of a rapidly spreading novel coronavirus and dramatic swings in global financial markets creates unprecedented challenges.

Second Quarter, 2019

Some have called this the most hated bull market in history. The S&P 500 Index finished the first half of 2019 at 2,942, only slightly lower than its all-time closing high of 2,954 reached on June, 20, 2019. S&P 500 six-month return, inclusive of dividends, is an impressive 18.5%, the best first half since 1996. Important Disclosures

First Quarter, 2019

The market has been on a wild ride. December 2018 was the worst December for the S&P 500 since 1931. Then, the first quarter of 2019 was the best first quarter in over 20 years. From sentiment to markets to economic data, there are a plethora of opposing extremes.
Chevy Chase Trust - Investment Update, Fourth Quarter 2018

Investment Update, Fourth Quarter 2018

Just as investors were settling in for a modestly positive year, U.S. equity markets sold off sharply in the fourth quarter. The sell-off rattled market participants. In this environment, keeping our heads about us and trusting ourselves is critical to achieving long-term investment success, particularly with doubters all around us.
Chevy Chase Trust - Investment Update, Fourth Quarter 2018

Investment Update, Second Quarter 2017

Global equity markets rose during the first half of 2017. In fact, annualized returns are on pace for the fifth best showing in 30 years. The MSCI All Country World Index (ACWI) generated a total return of 4.45% during the second quarter of 2017, bringing its year-to-date return to 11.82%.