Markets were mostly positive over the quarter except for some non-U.S. markets and long-duration bonds. U.S. stocks were up 7.71% as strong economic data overshadowed investor concerns relating to higher interest rates and trade tariffs. Emerging markets were down 1.09% on trade concerns and continued U.S. dollar strength. The Federal Reserve raised its benchmark rate for the third time this year and is on track to do so once more in 2018.