June 2021

Most global equity and fixed income markets ended May in positive territory, despite investors wrestling with concerns over inflation. More precisely, the question on the minds of many was, and continues to be, whether or not the recent spike in consumer prices will be transitory (as the Fed predicts) or a longer-term trend. This resulted in a choppy month of trading for U.S. large cap stocks, which ended the month higher by 70 bps. International equities fared somewhat better, as improving growth expectations and a weaker dollar pushed developed non-U.S. stock prices higher by 3.59%.