1st Quarter 2024 Commentary. Global equity markets had a strong quarter resulting in some markets exceeding their prior peak, such as the u.s. Equity markets had a stellar run in the first quarter, with the s&p 500 up over 10% and nearly 30% from the october low.

Against this backdrop, global equity markets sold off and volatility (vix) spiked, while global bonds rallied. The stock market continued to climb in the first quarter.