DFAC - Weekly Market Pulse: Contrasts And Contradictions

• As we mark the halfway point of the year, the economy is in full recovery mode and asset prices are soaring.
• As we enter the second half of the year though, it is hard to ignore some contradictions. Economic growth in H1 is going to print a big number, and yet, the 10-year Treasury note yield, while up since the beginning of the year, is also roughly 30 basis points off the high for this recovery set at the end of Q1.
• The big trends point to a continued economic recovery, assuming the Delta variant doesn’t take us down for another round. The second half of this year will be a time to concentrate on the tactical - which sectors, what stocks, which commodities?

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