Global Asset Allocation Team Market Update – June 2024

Investor hopes for a so-called soft landing catalyzed a profound rally across both stock and bond markets in May. Notably, data showing that economic momentum is finally fading in the United States added to evidence that restrictive monetary policy is working to cool the economy – while some tentative signs that the disinflation process hasn’t completely stalled-out saw investors brace for Federal Reserve rate cuts later this year.