Overview
Markets delivered mixed results in February. U.S. large-cap stocks, proxied by the S&P
500 Index, declined by 0.8%. U.S. small-cap stocks, as measured by the Russell 2000
Index, gained 0.8%. U.S. intermediate-term bonds, as represented by the Bloomberg U.S.
Aggregate Bond Index, gained 1.6%, making it the third-best February for bonds since
2007 (behind 2020 at 2.7% and 2025 at 2.2%).