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Capital Markets Overview
8
Heightened trade tensions lowered indices until the tail end of the second quarter at which point equity
performance began to improve gradually. Strong performance for aerospace and defense companies
continued in the third quarter as a result of earnings optimism, increased demand for commercial and
military jets, and heightened defense spending both domestically in the U.S. and internationally with NATO.
Custom Index Performance – Defense and Government Services
Custom Index Performance – Aerospace
Defense Prime Index
S&P 500
Defense Systems Index
Diversified Government Services Index
Middle Market Index
Large Cap Aerospace Index
S&P 500
Small Cap Aerospace Index
Mid Cap Aerospace Index
International Aerospace Index
9.9%
6.0%
11.5%
17.5%
6.9%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
Jul-02-18
Jul-16-18
Jul-30-18
Aug-13-18
Aug-27-18
Sep-10-18
Sep-24-18
13.7%
34.0%
10.3%
10.5%
6.9%
-5.0%
5.0%
15.0%
25.0%
35.0%
Jul-02-18
Jul-16-18
Jul-30-18
Aug-13-18
Aug-27-18
Sep-10-18
Sep-24-18