First Quarter 2015 – “Divergent”

First Quarter 2015 – “Divergent”

Following a familiar story, major central bankers’ accommodative monetary policies continued to flood the global markets with cheap capital to cajole investors into maintaining sufficient confidence to contribute to stable, healthy economic growth which occurs in part through acquisition of risk assets. Declining commodity prices and inflation expectations have allowed for even more fiscal interventions across Europe and Asia. Globally, an impressive 17 stock indexes set fresh highs, and another 29 hit twelve-month highs. Record low interest rates were experienced across the developed markets, as French, German, Japanese, UK, US, and Swiss ten-year notes ended the quarter with yields of 0.48%, 0.18%, 0.41%, 1.58%, 1.94%, and -.05%, respectively…