Stocks and the economy delivered impressive gains in the second quarter as the world continued to emerge from the COVID-19 pandemic. Though we saw bouts of volatility, including significant corrections in cyclical stocks in June, the averages closed out the quarter at all-time highs. This almost unimaginable outcome a year ago has been powered by fiscal and monetary policy, and avoiding worst case pandemic scenarios, thanks to the unprecedented development and roll out of vaccines. Portfolio activity picked up late in the quarter, as we sought to take advantage of some of the internal corrections within markets.
In our Q2 report, we dive into how:
Markets and portfolios advanced in the second quarter of 2021.
Economic data have improved, as we continue to move through the COVID crisis.
After a harrowing fall to start the year, treasuries began to stabilize, buoying fixed income portfolios.