2nd Quarter 2021 Market Review



The S&P 500 Index closed at 4,297.50 on 6/30/21, its all-time closing high, according to Bloomberg. A Bloomberg survey of 22 equity strategists found that their average 2021 year-end price target for the S&P 500 Index was 4,213 as of 6/16/21. The highest and lowest estimates were 4,600 and 3,800, respectively. The

index posted a total return of 2.33% in June. Six of the 11 major sectors that comprise the index were up on a total return basis. The top-performer was Information Technology, up 6.95%, while the worst showing came from Materials, down 5.30%. Major U.S

stock indices outperformed the major foreign counterparts in the first half of 2021. The yield on the benchmark 10-year Treasury note (T-note) closed trading on 6/30/21 at 1.47%, down 13 basis points (bps) from its 1.60% close on 5/31/21, according to Bloomberg. The yield stood 60 bps below its 2.07% average for the 10-year period ended 6/30/21. A survey by Bankrate.com found that Americans now favor real estate and cash when

investing long-term, according to its own release. When investing money that would not be

needed for more than a decade, 28% of those polled selected real estate over other options,

up from 26% a year ago. Cash was a close second at 25%, its highest level since 2014. Stocks,

which held the top spot a year ago at 28%, ran a distant third at 16%. Gold and other precious

metals appealed to 13% of respondents. Other notable choices were cryptocurrency and

bonds at 9% and 4%, respectively

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