Attached is the Maridea Monthly Market Update for August 2024. This report offers a snapshot of key trends shaping the current economic and market landscape. Here are the takeaways for this month:
- The S&P 500 Index returned +1.2% in July, underperforming the Russell 2000 Index’s+10.3% return. Ten of the eleven S&P 500 sectors traded higher, led by Real Estate,Utilities, and Financials. Technology was the only sector to trade lower, reversing aportion of its rise in the first half of 2024.
- Corporate investment-grade bonds produced a +2.6% total return as Treasury yieldsdeclined. Corporate high-yield bonds gained +2.3% as credit spreads tightened.
- International stock performance was mixed. The MSCI EAFE developed market stockindex returned +2.6%, while the MSCI Emerging Market Index returned +0.8%.
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