United seeks to be a trusted partner to our clients, inspiring confidence and peace of mind so they can focus on what matters most. We believe in always acting in the best interest of our clients through our investment management expertise, financial planning services, transparent communication, and a collaborative team approach.  

 

Learn More

United Asset Strategies Quarterly Insights: 3Q2024

Markets rose in the 3rd quarter, aided by an economy that has threaded the
needle, with macro activity moderating enough to cool inflation and provide
a path for rate cuts, but not so much that it causes a recession. Exhibit 1
shows that the S&P 500 gained 22% year-to-date, adding 5% in the 3rd quarter. Unlike the narrow breadth we saw in the 1 st half of 2024, a resilient economy alongside the onset of a new rate cutting cycle were the rising tides that lifted all boats, with 2/3rds of S&P 500 stocks outperforming in the quarter. To that end, we saw increased participation for the typical stock, as seen in the S&P 500 Equal Weight, and a reversal in leadership, with nonMagnificent 7, SMID-Cap and Value stocks beating Magnificent 7, LargeCap and Growth stocks. Bonds were also up, as seen in the Bloomberg US Agg., with Treasuries firmer and the 10-year less 2-year Treasury yield curve steepening, ending the quarter at +15bps after being inverted since 2022.

Read More