Economic and Market Overview
Something for Everyone
The second quarter provided a satisfying experience for nearly all investors as domestic equities, international equities and fixed income all registered positive returns for the period.
In this issue:
Fixed Income Commentary
Bonds Perform Well in Risk-off Environment
Core bonds finished the second quarter with a gain of 1.16%. Results were driven by stable interest rates and positive excess returns from corporate bonds and mortgage-backed securities (MBS).
Equity Commentary
A Path of “Least” Resistance
Last quarter experienced numerous events which impacted global equity markets in various ways. Sentiment towards equities, specifically U.S. equities, ebbed and flowed seemingly with each day throughout most of the quarter.