The Factor Report

Market Wrap

For the week ended April 10th, 2026, stocks rallied again everywhere. Bonds were slightly higher for the week as the iShares Core US Aggregate Bond ETF (AGG) rose 0.09% with yields holding steady; the 10-year US treasury yield remained at 4.31%, according to Yahoo Finance. Asset price drivers of the week:

• On Monday, investors showed some cautious optimism about a resolution to the war in Iran and had no economic data to react to.
• Despite Trump's threats on Tuesday to eviscerate Iran, indices moved higher on hopes for a truce as Iran indicated the Strait of Hormuz could be reopened.
• Stocks rallied sharply on Wednesday after a Tuesday evening two-week ceasefire with Iran. Oil dropped steeply on the news. The minutes from the Federal Reserve's March meeting were also released, showing that some officials still believe rate cuts are possible.
• Thursday saw stocks drop on Iran's claim that the truce had been broken, but a reversal later in the day after Israel agreed to hold talks with Lebanon.
• Indices were flat to higher on Friday. A report showed the Consumer Price Index coming in hot, but much of that was due to energy prices. Investors didn't react to strongly as hopes are that this weekend's peace talks can yield an end to the war and a lower price of oil.
• Next week we will get existing home sales as well as a couple of key inflation indicators, including the Producer Price Index and import prices. At least early in the week, much of the action will be driven by the outcome of this weekend's talks between the US and Iran.

Performance Summary

As shown in the chart, Emerging Markets won the week, with the US lagging behind International as roles reversed from the prior week. Within the US, the Tech-heavy Nasdaq bested the broader S&P 500, leaving the Dow Jones Industrial Average behind. From a factor perspective, Momentum, Value, and Quality outperformed the global All Country World Index (ACWI).

In The News

A great piece on key considerations for 529 college savings plans.

https://www.thinkadvisor.com/2026/04/08/blanchett-avoids-529s-but-doesnt-think-everyone-should/?kw=Why%20David%20Blanchett%20Avoids%20529s&utm_position=1&utm_source=email&utm_medium=enl&utm_campaign=dailywire&utm_content=20260408&utm_term=tadv&oly_enc_id=3992A1328267B3X&user_id=3d158419d93f4751d4b3b79dd78d9abf446b89b61e92e7567cb4126b86cb53c5

What to watch in this weekend's talks between the US and Iran

https://www.marketwatch.com/story/whats-at-stake-for-markets-as-the-u-s-and-iran-talk-this-weekend-4634cb0f?mod=home_lead

Just because an advisor works for a big firm doesn't make the client any safer.

https://www.thinkadvisor.com/2026/04/03/ex-edward-jones-advisor-pleads-guilty-in-nearly-10m-fraud-case/?kw=Ex-Edward%20Jones%20Advisor%20Pleads%20Guilty%20in%20Nearly%20%2410M%20Fraud%20Case&utm_source=email&utm_medium=enl&utm_campaign=earlywire&utm_content=20260406&utm_term=tadv&oly_enc_id=3992A1328267B3X&user_id=3d158419d93f4751d4b3b79dd78d9abf446b89b61e92e7567cb4126b86cb53c5

Disclosures

Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable or equal the corresponding indicated performance level(s). Moreover, you should not assume that any of the above content serves as the receipt of, or as a substitute for, personalized investment advice from Metric Financial.

All data and performance information sourced from Morningstar and MarketWatch, unless otherwise indicated.

USA is the MSCI USA index, Non-US Developed is the MSCI EAFE index, Emerging Markets is the MSCI Emerging Markets index, and All Country World is the MSCI ACWI index. One cannot invest in an index. Because the factor indexes have varying inception dates, some of the returns provided are back-tested and do not represent actual performance. Inception dates are as follows:

Momentum = MSCI ACWI Momentum NR USD Index (Inception: 11/30/95)

Value = MSCI ACWI Enhanced Value NR USD Index (Inception: 5/29/15)

Quality = MSCI ACWI Quality NR USD Index (Inception: 5/29/92)

Low Volatility = MSCI ACWI Minimum Volatility (USD) NR USD Index (Inception: 5/28/93)

Size = MSCI ACWI Risk Weighted NR USD Index (Inception: 4/6/11)

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All written content is for information purposes only. Opinions expressed herein are solely those of Metric, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.