Global stocks came out of the gates strong, climbing 2.96% in January following three straight years of gains: 22.34% in 2025, 17.49% in 2024, and 22.20% in 2023.
Investment Commentary Articles
Q1 2026 CIO Letter – Two Questions for 2026: AI Exuberance and Geopolitical Uncertainty
As we celebrate the start of a new year, we reflect on a robust 2025 for investors, with the MSCI global equity benchmark hitting 56 new all-time highs over the course of the year and delivering a 22% return, its best annual performance since 20191 .
Global Market Commentary December 2025
Markets closed 2025 on a high note. Learn what drove global stocks, bonds, metals, and crypto as the year came to an end.
Global Market Commentary November 2025
Global markets were flat in November, but major shifts played out beneath the surface. Explore trends in tech, metals, crypto, yields, and international markets.
Global Market Commentary October 2025
Global Market Commentary at a GlanceGlobal stocks rose 2.24% MTDVolatility (VIX) climbed to 17.44Fed rates are now at 3.75–4.00% range10-year Treasury yield eased to 4.08%Japan’s Nikkei 225 reached 52,411Gold cooled to $4,002.92/ozBitcoin and Ethereum falling 4.55%...
Q4 2025 CIO Letter – Antifragile: When Volatility Strengthens Rather Than Weakens
This year in the stock market feels like a case study in Nassim Taleb’s concept of antifragility—the idea that some systems can not only withstand shocks but can actually benefit from them.
Global Market Commentary September 2025
Global markets surged in September 2025, with rate cuts, record gold prices, and broad sector strength driving gains. Read Perigon’s full market analysis and insights.
Global Market Commentary August 2025
Global stocks continued their record-setting run, rallying 2.47% in August, notching their fifth winning month in a row. The MSCI All Country World Index’s (ACWI) touched a new all-time high on August 28th and is up 14.30% so far in 2025.
Global Market Commentary – July 2025
Global stocks rallied to a new all-time closing high, gaining 4.49% in June bringing Q2 returns to 11.53% and 2025 YTD gains to 10.05% — completing a remarkable comeback from the spring’s tariff-induced turmoil
Q3 2025 CIO Letter – Discipline and Diversification for the Win
As we reflect on the first half of 2025, markets have delivered a lesson in resilience—and a reminder of the importance of staying diversified and disciplined through uncertainty.
Global Market Commentary – June 2025
Global stocks rallied to a new all-time closing high, gaining 4.49% in June bringing Q2 returns to 11.53% and 2025 YTD gains to 10.05% — completing a remarkable comeback from the spring’s tariff-induced turmoil
Global Market Commentary – May 2025
Global stocks popped 5.75% in May, marking the MSCI All Country World Index’s (ACWI) best monthly performance since November 2023 when it surged 9.23%. The bulk of the global equity index gains came…