Commentary
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Kensington Monthly Commentary – May 2025
The stock market endured one of its most volatile months in years. The S&P 500 fell 21.35% from its February 19 peak of 6,147.43 before bottoming on April 7 at 4,835.04, shortly before the Administration announced a 90-day pause on new tariffs (excluding China). Markets quickly rebounded on the news, with the S&P 500 soaring 9.52% on April 9, its largest single-day gain since October 2008. The Nasdaq Composite jumped 12.16% the same day, marking its biggest one-day percentage gain since January 3, 2001, and the second-largest on record.
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Strategy Review – April 2025
February saw heightened volatility as investors reassessed the economic impact of newly imposed trade tariffs. While the market had initially assumed tariffs were a bargaining tactic, the confirmation of their implementation triggered a swift correction.
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April 2025: A Month of Reversals and Resilience Across Markets
The stock market endured one of its most volatile months in years. The S&P 500 fell 21.35% from its February 19 peak of 6,147.43 before bottoming on April 7 at 4,835.04, shortly before the Administration announced a 90-day pause on new tariffs (excluding China). Markets quickly rebounded on the news, with the S&P 500 soaring 9.52% on April 9, its largest single-day gain since October 2008. The Nasdaq Composite jumped 12.16% the same day, marking its biggest one-day percentage gain since January 3, 2001, and the second-largest on record.
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Strategy Review – March 2025
February saw heightened volatility as investors reassessed the economic impact of newly imposed trade tariffs. While the market had initially assumed tariffs were a bargaining tactic, the confirmation of their implementation triggered a swift correction.
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March 2025: TARIFFS, TUMULT, AND A SHIFT IN SENTIMENT
February saw heightened volatility as investors reassessed the economic impact of newly imposed trade tariffs. While the market had initially assumed tariffs were a bargaining tactic, the confirmation of their implementation triggered a swift correction.
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Flight to Quality in Uncertain Times
February saw heightened volatility as investors reassessed the economic impact of newly imposed trade tariffs. While the market had initially assumed tariffs were a bargaining tactic, the confirmation of their implementation triggered a swift correction.
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“America First” Approach
The world remains in flux as investors assess the geopolitical and economic policies of the new administration. Trump’s “America First” approach continues to drive policy, causing disruption abroad but reinforcing US leverage in global negotiations.
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A Dynamic Start
January set the stage for a dynamic start to 2025, with markets responding to evolving macroeconomic conditions, heightened volatility, and shifting leadership across asset classes.
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2024 Investment Strategy Review
The 2024 Strategies Year in Review encapsulates Kensington Asset Management’s unwavering dedication to navigating complex financial landscapes with precision and foresight.
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2024 In Review
The year 2025 is notable for being a perfect square year, meaning it is the product of a squared integer, in this case, 45. It is also the year of the Wood Snake according to the Chinese Zodiac.
