The challenging environment for markets that began in the first quarter continued into the second, driving stocks into a bear market as economic and geopolitical headwinds to growth grew in number and magnitude. Bond prices have also been affected negatively, declining by -4.7% in the second quarter, for total year-to-date decline of -10.3%; the worst performance for that asset class since 1973.[1] Commodities – the only asset class to increase for the year – slowed markedly in their march higher, increasing in price by 2% in Q2 compared to 32.4% in Q1.
