Investment Quarterly Market Update - Santander
Quarterly
Market Update
For a more in-depth analysis of the latest political, economic, and market news as well as the bank's insights into the next quarter, read Santander Investment Services’ Global Market Outlook.
A look back...
Muscle flex: It was a good three months for investors - as most asset classes delivered positive returns in the second quarter. For stocks, corporate earnings continued to grow at a rapid pace as the broad economy recovered. This very strong corporate earnings growth, combined with GDP growth that could reach 7% as the economy has reopened, have helped contribute to the S&P 500 Index's year to date gain of just over 15% and over 8% for the recent quarter.
Sigh of relief: The retreat in long-term interest rates was a sigh of relief for fixed income investors in the second quarter. Following losses to start the year, the Bloomberg Barclays US Aggregate Bond Index rose about 2%. The 10-year Treasury yield declined 25 basis points, settling at 1.45% yield.
Challenges remain: Despite a strong Q2 for the economy and risk assets, challenges and uncertainties persist: supply chains are disrupted, input costs have surged, taxes could be going higher, millions of Americans remain out of the labor market, and vaccination distribution efforts are not yet complete.
Data are as of 6/30/21 and all sources are Morningstar.
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