– Mixed performance from key asset classes. International stocks bounced, while US stocks were the worst performing asset class.
– US equities down week was concentrated in Tech and Large Caps. Seven of nine style boxes were up, as were seven of the 11 sectors.
– Broad advance in international markets with 80% of countries advancing. China rallied 3.7%.
– Stronger than expected inflation sent prices on US Treasuries lower. The yield on the 2Yr Treasury has climbed 50 basis points in the last month to 4.6%.

– US Equities and Commodities rallied. They are also the only two major asset classes with positive year-to-date returns.
– All style boxes advanced, but smaller cap stocks and value stocks underperformed. Growth and Tech outperformed.
– International equities were flat, with slightly more than half of countries advancing. More than 60% of countries are down year-to-date.
– US Treasuries declined, and breakevens on US TIPS are starting to signal a rebound in the rate of inflation.