July 2021

With supply chains struggling to meet demand, growth stocks continued their volatile ride higher. Increased business and consumer spending helped fuel a strong quarter.

With supply chains struggling to meet demand, growth stocks continued their volatile ride higher. For the strategy, healthcare stocks continued to lead our outperformance.

As we move from economic recovery to expansion, high-quality stocks continue to hold their own. But a handful of so-called “meme” stocks continue to confound the benchmark.

Nearly all sectors and regions performed strongly in the second quarter, with the U.S. continuing to lead relative to international developed and emerging markets.

Curve flattens on both record demand and supply, fiscal support and record tax revenues lead an impressive recovery for municipal credit.

Yield curve flattens as Fed signals tapering and liftoff may begin earlier than previously anticipated.