September 2021

August 2021 - Market Flash

Another month, another all-time high for the S&P 500, an achievement that has become common place for the index for much of 2021. The benchmark index ended August with a gain of 3.04%. It is now higher by more than 21.5% on the year and trades at 37 times 10-year earnings, more than twice its historical average. Non-U.S. equities also turned in a good showing for August, with the MSCI EAFE index gaining 1.76%, while the MSCI Emerging Markets index advanced by 2.62%, all despite the dollar hitting its intra-year high mid-month.