June 2021 - Market Flash
Ryan J. Lehman - Thursday, July 8, 2021
Interest rates continued to be a dominant headline in Q2, as the yield on the 10-year treasury pulled a near 180 degree reversal from earlier in the year, declining by more than 25 bps. This came in stark contrast to 2021’s first quarter, where looming inflation concerns caused interest rates to spike by more than 80 bps. This resulted in, not only, a reversal in performance for fixed income assets, but a meaningful change in leadership away from lower duration* and more economically sensitive value stocks toward higher duration* growth names.