ACG’s August 2022 Capital Markets Review

(Download the full report HERE)

Market Highlights

  • Equity markets finished August lower after an initial surge to begin the month as investors continue to digest Fed policy amidst inflationary pressures.
  • The S&P 500 fell -4.08% in August and is now down -16.14% for the year.
  • Energy and Utilities were the only positive sectors in the S&P 500 in August after gaining 2.83% and 0.51%, respectively. Energy remains the clear winner of the past year.

  • Value stocks regained some favor relative to Growth with the Russell 1000 Value Index returning -2.98% compared to the Russell 1000 Growth’s -4.66% in August. Value remains solidly ahead of Growth this year (-9.85% vs. -23.19%).
  • Developed International equities fell along with domestic markets in August with the MSCI EAFE Index returning -4.75%. Emerging Markets were positive for the month with the MSCI Emerging Markets Index gaining 0.42%.
  • Bond yields rose for the month after Jerome Powell’s closely followed speech in Jackson Hole. The 10-Year Treasury yield rose from 2.80% to 3.14% in August which helped push the Bloomberg US Aggregate Bond Index down -2.83%.

Sources: Morningstar Direct, MSCI

Download the full report HERE to see index returns and more.