Market Commentary

Global markets produced mixed results during November, with modest gains in domestic equities offset by losses in international markets and corporate bonds. Large cap stocks in the U.S. returned 0.3%, while small caps were the top performer during the month returning 3.3%. International stocks fell during the month, with developed economy stocks
losing ‐1.6% and emerging market stocks, which are particularly commodity sensitive, losing ‐3.9%. The strength of the U.S. dollar provided further headwinds for commodity markets, while crude oil declines caused investors to sell energy‐related investments. Core bonds lost ‐0.3%, as shorter‐term interest rates reached a 5 year high in anticipation of a Fed rate hike.

With the holiday season upon us, and the end of one year and the start of another approaching, we pause to give thanks for our blessings and the people in our lives. It is also a time when charitable giving often comes to mind. Charitable giving can be enhanced using income tax deductions, and so it can be much more effective when included as part of year-end tax planning.