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July 17, 2017 Article 8 min read
Our latest Market Perspectives provides timely economic and financial expertise on emerging trends and issues that are top of mind with our clients.

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Executive summary

  • Domestic equities ended June on a positive note, with stocks making gains across all major indices.
  • Emerging market stocks gained while developed international markets declined slightly last month. Year to date, however, international equities are outperforming their domestic counterparts by a significant margin.
  • Bonds gave up some ground as the yield curve steepened late in the month, while lower quality bonds achieved small gains.
  • In a widely expected move, the Fed raised its benchmark interest rate by 25 basis points at its June meeting. In addition, it released a plan to shrink its balance sheet, gradually reversing much of the expansion that took place as part of the former QE strategy.
  • First-quarter GDP growth estimates were revised slightly upwards to 1.4 percent, while the outlook for the remainder of the year points to stronger growth in the coming quarters.

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