Q1 Market Charts
Access our market outlook for insights into key economic and financial market trends impacting investors with interactive economic charts and market charts, plus data relevant to equity, fixed income, municipal bonds and alternative mutual funds.
- Access more than 50 Market Charts highlighting Q1 investing and economic trends.
- Charts and graphs clearly articulate economic and market conditions.
- Summaries add useful contrast to Market Charts’ data points.
OppenheimerFunds Interactive Market Charts is a quarterly roundup of thousands of data points by our Capital Markets analysts. Market Charts highlight what’s going on in the U.S. economy, global markets and the fixed income and alternative investment worlds and include a brief summary explaining the implications behind each trend.
Market Charts show that
- Markets rallied even as global economic growth remained soft; valuations generally remain attractive.
- Many global stock markets continued to advance in 2013 on generally improving economic data.
- Many fixed income sectors declined due partly to concerns over rising rates.
- Most municipal bonds declined as U.S. interest rates backed up.
- MLPs were among the top-performing alternative investments, but gold floundered.
Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes and geopolitical risks. Investments in emerging and developing markets may be especially volatile.
Fixed income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall, and a Fund’s share prices can fall.
A portion of a municipal bond fund’s distributions may be taxable and may increase taxes for investors subject to the alternative minimum tax (AMT). Capital gains distributions are taxable as capital gains.
Investing in the commodity markets involves potentially higher volatility and greater risk of loss of principal than traditional equity or debt securities. Commodity-linked investments are considered speculative and have substantial risks, including the risk of loss of a significant portion of their principal value.
Investing in a limited number of sectors, such as gold, oil and real estate, can increase volatility and exposure to issues affecting that sector.
Investing in MLPs involves additional risks as compared to the risks of investing in common stock, including risks related to cash flow, dilution and voting rights. Each Fund’s investments are concentrated in the energy infrastructure industry with an emphasis on securities issued by MLPs, which may increase volatility. Energy infrastructure companies are subject to risks specific to the industry such as fluctuations in commodity prices, reduced volumes of natural gas or other energy commodities, environmental hazards, changes in the macroeconomic or the regulatory environment or extreme weather. MLPs may trade less frequently than larger companies due to their smaller capitalizations which may result in erratic price movement or difficulty in buying or selling. Additional management fees and other expenses are associated with investing in MLP funds. The Oppenheimer SteelPath MLP Funds are subject to certain MLP tax risks. An investment in an Oppenheimer SteelPath MLP Fund does not offer the same tax benefits of a direct investment in an MLP. The Funds are organized as Subchapter “C” Corporations and are subject to U.S. federal income tax on taxable income at the corporate tax rate (currently as high as 35%) as well as state and local income taxes. The potential tax benefit of investing in MLPs depend on them being treated as partnerships for federal income tax purposes. If the MLP is deemed to be a corporation, its income would be subject to federal taxation at the entity level, reducing the amount of cash available for distribution which could result in a reduction of the fund’s value. MLP funds accrue deferred income taxes for future tax liabilities associated with the portion of MLP distributions considered to be a tax-deferred return of capital and for any net operating gains as well as capital appreciation of its investments. This deferred tax liability is reflected in the daily NAV and as a result a MLP fund's after-tax performance could differ significantly from the underlying assets even if the pre-tax performance is closely tracked.
Diversification does not guarantee profit or protect against loss.
Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.
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