The large US equity rallies in 2023 and 2024 have been driven mainly by valuation expansion, which accounted for almost three-fourths to more than half of total return in 2023 and 2024, respectively.

The Global Market Index (GMI) is expected to earn a 7%-plus annualized total return in today’s update for the long-run outlook, based on data through September. The current 7.1% annualized estimate ...

The best performer among the largest active bond funds was the PIMCO Total Return Fund, which returned 3.5% in the first quarter. The iShares 20+ Year Treasury Bond ETF did the best out of the largest ...