Envestnet | PMC Monthly Recap - July
July was a largely solid month for equity markets. Fixed income asset classes struggled in the face of higher interest rates, though.
July was a largely solid month for equity markets. Fixed income asset classes struggled in the face of higher interest rates, though.
During one week in July, the S&P 500 notched five straight record highs. That impressive feat last occurred over a year ago.
Bonds, however, generally fell in July due to rising interest rates, especially in the US. Inflation rose in multiple key markets, creating a fixed income headwind.
The Federal Reserve decided to hold rates steady in July, as expected. Chairman Powell declined to promise a September rate cut, too.
What we’re watching: Have we seen “peak tariff,” or will duties still go up? Will August 1st’s disappointing US jobs report lead to a September rate cut after all?
Read our July Market Recap to learn more.