In the third quarter of 2026, equity markets consolidated gains after a very strong first half of the year. Value outperformed growth and large-cap stocks advanced while mid- and small-cap names declined. Higher interest rates, including a Federal Reserve rate increase in September, generated negative returns for bonds even as corporate earnings remained strong, a reminder of why we continue to view diversification across both asset classes and investment styles as essential.

Read PSG’s third quarter 2026 commentary to learn more.