Inflation Has a Long Road Ahead. Is Your Portfolio Prepared?

Market Uneasiness Returns in February.

Amid restored inflation worries and an upward repricing of terminal rates, equities posted losses in February. For the month, broad-based emerging market equities were among the worst performers (-6.9%), followed by international developed equities (-3.0%) and US value (-3.0%). Bonds also declined as investment grade corporates were down 4.2%, 7-10 year US Treasuries fell 3.3%, and the US Aggregate Bond Index decreased 2.7%. Similarly, commodities produced negative returns: silver dropped 12%, gold declined 5.4%, broadbased commodities decreased 5.0%, and crude oil down 3.0%.