RYLPF - Fiduciary Management Q2 2024 Investment Strategy Outlook

2024-07-18 10:55:00 ET

Summary

• Global stock markets were mixed in the second quarter, with U.S. Large Cap growth stocks continuing to march to their own beat, U.S. Small Cap stocks declining, and International stocks treading water.
• Speculation is widespread with growth continuing to outperform value year-to-date across the board.
• One thing is always true about stock markets: trends don’t last forever, and inflection points typically happen when investors least expect them.
• Other top-performing themes in the U.S. include Bitcoin sensitive equities, obesity drugs, and high-beta 12-month winners (i.e., momentum stocks), according to Goldman Sachs.

Global stock markets were mixed in the second quarter, with U.S. Large Cap growth stocks continuing to march to their own beat, U.S. Small Cap stocks declining, and International stocks treading water. Economic growth in the U.S. has been resilient, while Europe and Japan have been softer. Inflation is stable, labor markets are easing (but still tight), and global trade is starting to rebound. Geopolitical risks remain high. Speculation is widespread with growth continuing to outperform value year-to-date across the board. Fortunately, one thing is always true about stock markets: trends don't last forever, and inflection points typically happen when investors least expect them....

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