– International Equities and Real Estate were the best performing key global asset classes. Real Estate is positive year-to-date for the first time in 2024.
– Sharp one-week rotation out of Large Cap Growth in favor of unloved sectors and style boxes.
– International equities rallied broadly for the second week in a row, with 40 of 45 countries advancing.
– The Consumer Price Index fell month over month for the first time since the COVID pandemic began, leading mkts to speculate the odds of a Fed rate cut are growing.

– Global equities finished the week higher. US Treasuries were flat. Tech and Large Cap Growth drove US Equity gains.
– One of the narrowest stock market weeks in memory. Seven of nine style boxes declined – there was a 5% one-wk gap between Large Growth and Small Value perf.
– Broad rally for international equities across developed and emerging markets with 40 of 45 countries advancing.
– Commodities advanced, and crude oil climbed back above $85 a barrel. The dollar declined.

– US Equities led all major assets classes in Q2 2024. Momentum in big cap Tech stocks drove US Equity performance in Q2.
– Small Caps finished the first 6mos of 2024 in the red. This is the widest first six months outperformance of Large Caps versus Small Caps in at least 50 years.
– Emerging markets rebounded in Q2 with strong outperformance, led by Asia and Emerging European countries.
– Lumber futures fell more than 20% during the quarter. Yields on Treasuries rose, driving corporate bond spreads to the lowest since 2007.