Our latest Market Perspectives provides timely economic and financial expertise on emerging trends and issues that are top of mind with our clients.
- 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.