Milliman FRM Insight: March 2019 Market Commentary
By Joe Becker
11 April 2019
While the bond market exhibited signs of concern, equities continued to rally. With its third straight month of positive returns, the S&P 500 notched its best quarterly return since the third quarter of 2009. After a below-average February, the volatility of the S&P 500 increased in March, back to its five-year average. The volatility of the S&P 500 began the month below the 18% volatility threshold of the S&P Managed Risk Index and remained below it the entire month. The U.S. dollar rose 0.7% in March.