Milliman FRM Insight: February 2019 Market Commentary

After its best January in more than 30 years, the S&P 500 rose again in February, completing a full recovery from its 16% December drawdown. Bolstered by dovish Federal Reserve comments and rising prospects for a U.S./China deal, S&P volatility edged sharply lower for the second month in a row. Stocks were supported by a continuation of January’s solid earnings reports, with 70% of companies reporting in February beating estimates by an average of 10%. Managed risk benchmarks increased their equity exposure again in February.

Milliman’s Joe Becker offers more perspective in this month’s market commentary. Download the full commentary at

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