Forty "W"ritings

Global equities rose in April despite banking stress and worsening leading economic indicators.

Quick Take Despite the stress in the banking system, including the failure of Silicon Valley Bank, global equity markets held up remarkably well in March and posted solid returns for the quarter. Underneath the calm market surface there was wide dispersion in returns across sectors, market caps and styles. Fixed-income markets had a strong quarter as longer-term bond yields fell, generating price gains.

For most families, planning and paying for college is one of the most complex and emotionally fraught financial decisions they will ever make.

* Silicon Valley Bank experienced a classic run on deposits from their start-up tech company client base. * Consensus is this not another 2008-type financial crisis. * Fear will likely remain elevated in the short-run especially for other regional banks. * We are going to continue to monitor to manage risk and look for opportunities.

Surrounded by the otherworldly landscapes created through fire and ice, I was reminded of the value of stepping outside of the familiar life we live day to day.

Rising rates have investors jumping around as bond yields compete with stocks for investor money.