Market Update - May 2018

After a tumultuous start to the year, a sense of normalcy returned to the marketplace in April. Volatility has consolidated around levels higher than those witnessed through 2017, but remains at levels more consistent with historical norms. With complacency seemingly washed out of the marketplace and less visibility in the economic cycle, investors are striving for direction and appear more sensitive to economic and political developments at hand, including the prospect for higher borrowing costs, lofty earnings expectations, an uncertain geopolitical climate, and brewing trade tensions – essentially underscoring the fragile sentiment in the marketplace at this time.