Your Money

Markets entered the year with strong momentum, supported by solid economic data and earnings expectations. That strength carried through January and February before fading in March as geopolitical risk, particularly escalation with Iran, introduced volatility.

At the same time, rising oil prices and persistent inflation concerns pushed interest rate expectations higher, leading to increased volatility in bond markets. A strengthening U.S. dollar added another layer, creating a headwind for international equities.

The result was a quarter defined by a shift from steady, fundamentals-driven performance to markets reacting to changing expectations around inflation, policy, and global stability.

• Broad Market (S&P 500):  -4.4% 1Q  |  +17.8% last 12 months
• Small Companies (Russell 2000):  +0.9% 1Q  |  +25.8% last 12 months
• International Stocks (EAFE):  -1.1% 1Q  |  +21.9% last 12 months
• Emerging Markets (MSCI EM):  -0.1% 1Q  |  +30.3% last 12 months
• Bonds (Bloomberg Agg): -0.1% 1Q  |  +4.4% last 12 months

Personal video statements will begin going out this week.

First-Quarter 2026 Key Takeaways: Where to Go From Here
by Prem Patel

Your Life

Friendship in adulthood rarely happens by accident. The structure that once made connection easy, school, work, proximity, fades over time. What’s left is something less automatic but more intentional. Relationships tend to strengthen not through grand gestures, but through consistency, reaching out without a reason, making plans before calendars fill, and staying connected even when life gets busy.

It also means adjusting expectations. Friendship doesn’t need to look like it once did. Short conversations, shared routines, or simply showing up in small ways can carry more weight than occasional, perfectly planned time together. Most people assume connection should feel effortless, but over time, the relationships that last are usually the ones someone chose to keep investing in.

The Friendship Advice Experts Swear By
by Catherine Pearson

Complexity Simplified

Trivia