Commentary
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Monthly Market Commentary – July 2026
June’s central tension was that positive US economic data coincided with weakness in certain large-cap equities.
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Monthly Market Commentary – June 2026
June’s central tension was that positive US economic data coincided with weakness in certain large-cap equities.
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Monthly Market Commentary – May 2026
US equities moved lower in March as the conflict involving Iran, the US, and Israel pushed energy prices sharply higher and added another layer of uncertainty to an already fragile market backdrop. After
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Monthly Market Commentary – April 2026
US equities moved lower in March as the conflict involving Iran, the US, and Israel pushed energy prices sharply higher and added another layer of uncertainty to an already fragile market backdrop. After
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Monthly Market Commentary – March 2026
US equities moved lower in March as the conflict involving Iran, the US, and Israel pushed energy prices sharply higher and added another layer of uncertainty to an already fragile market backdrop. After
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Monthly Market Commentary – February 2026
Risk assets delivered mixed but generally positive results in November as investors weighed softer labor data, the ongoing government shutdown, and the prospect of another Federal Reserve rate cut in December.
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Monthly Market Commentary – January 2026
Risk assets delivered mixed but generally positive results in November as investors weighed softer labor data, the ongoing government shutdown, and the prospect of another Federal Reserve rate cut in December.
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2025 Year-End Market Review
Risk assets delivered mixed but generally positive results in November as investors weighed softer labor data, the ongoing government shutdown, and the prospect of another Federal Reserve rate cut in December.
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Kensington Monthly Commentary – November 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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Kensington Monthly Commentary – October 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.
