Global Asset Allocation Team Market Update – February 2026
Financial markets got off to a solid start to 2026, despite an array of developments on the geopolitical and policy fronts. The year kicked-off with a flood of headlines around Venezuela, Iran, Greenland, and Federal Reserve independence that took a toll on sentiment. However, positive data surprises underscored that the economy has managed well through the noise – and most major asset classes we track ended January in positive terrain.
Global equity markets advanced in January. The S&P 500 briefly breached the 7000-mark before edging lower towards month-end. Earnings season kicked off with the biggest banks disclosing results that failed to impress – while results were mixed across a number of the big tech names. The S&P/TSX underperformed by a wide margin as a late-month selloff in gold stocks weighed on relative performance. Still, the parabolic rally in the precious metal left gold stocks nearly 10% higher last month. The MSCI EAFE extended its winning streak to seven months (the longest since 2021). The MSCI Emerging Markets Index led the global charge – powered higher by a rally in Asian chipmaker stocks.
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Global Asset Allocation Team Market Update – March 2026