This report features world capital market performance and a timeline of events for the 2nd Quarter 2019. It begins with a global overview, then reports the returns of stock and bond asset classes in the US and international markets. We hope you find it helpful.

A great week for equities. The stock market recorded its second consecutive week of gains, with the Dow (+1.5% for the week), Nasdaq (+1.0% for the week), and S&P 500 (+0.8% for the week) reaching fresh record highs.

Over the course of a summer, it’s not unusual for the stock market to be a topic of conversation at barbecues or other social gatherings. In fact, it's pretty common these days!

The S&P 500 declined 0.3% this week, but still increased 6.9% this month to record its best June since 1955. Price action reflected some consolidation in front of the G-20 meeting between President Trump and President Xi after Friday's close.

Last week, the S&P 500 once again hit new all-time highs (currently hovering around 2,945). The market pullback that began in May - the result of on-going trade and Fed concerns - has now fully recovered. Volatility is just a normal part of investing, even when the situation appears to be the most uncertain.

The S&P 500 increased 0.5% this week, lifted by shares of consumer discretionary companies as the market remained hopeful for positive outcomes in the Fed's policy decision next week and the G-20 summit later this month.

To say that the Fed has been a major driver of markets over the past decade would be an understatement. The effects of monetary policy on stocks and bonds have been a defining characteristic of this business cycle.

The return of market volatility is déjà vu all over again. Recent swings in global stocks and bonds are the result of escalating trade tensions and fears of an economic slowdown. What has changed in recent weeks?

The S&P 500 lost 2.6% this week and 6.6% this month, registering its first monthly decline in 2019. Lingering U.S. - China trade tensions and a surprise 5% tariff rate on Mexico contributed to broad-based efforts to de-risk and seek safety in U.S. Treasuries.

The S&P 500 lost 1.2% this week, as trade and growth concerns sent investors fleeing from cyclical assets and seeking shelter in U.S. Treasuries and low-beta stocks.

It got pretty ugly on Wall Street today, with the Dow Jones dropping 617 points (-2.38%). The U.S. and China exchanged fresh threats in a trade war that many fear will continue to escalate. Only time will tell, but it's likely a deal will be reached eventually.