Capital Markets

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April 17, 2024

Capital Market Review as of March 31, 2024

During the first quarter, U.S. stocks, driven primarily by seven companies, led equity markets higher while most bond indices were down. Seven stocks were responsible for over 62% of the S&P 500’s total gain in 2023 and in 1Q24. Meanwhile, bonds (as measured by the Bloomberg Aggregate Bond Index) were down for the 7th time out of the last 10 quarters. 

Predicting interest rates continues to be a challenge for investors as expectations of Fed action changed materially over the course of the quarter. 

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