Global equities have charged higher in the month of October, mainly driven by additional signs of monetary easing from the European and Chinese central banks. Some corporate merger activity along with several positive earnings surprises from key technology companies has also helped fuel the recent rally in equities. Indeed, the S&P 500 Index has recovered almost all of the ground it lost since the mid-August correction. Looking ahead, we expect volatility to linger as investor sentiment remains fragile. Persistent concerns over Chinese economic growth, falling commodity prices, and the timing of Fed monetary policy will likely limit equity markets from making more meaningful advances.