Q3 2017 Market Summary

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Stock prices continued to rise strongly throughout Q3 with emerging markets leading the way followed by developed and lastly US markets.  Bond returns also remained positive for the quarter even with higher yields which had larger increases among shorter duration bonds.  The value effect was positive in non-US developed markets but negative in the US and emerging markets.  Small caps outperformed large caps in US and non-US developed markets but under-performed in emerging markets.

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