July 2021

Clients & Friends:

We wanted to take a moment to send a market update for the month of June and add a little perspective around some of the headlines you may be seeing as the economy and the world slowly reopen.

The domestic economic recovery remains robust, with the equity market reaching new heights in June. Recent data suggests a quick recovery as the economy reopens, but the pace may taper over the second half of the year. We may see near-term volatility among equities as negotiations in D.C. (regarding the infrastructure bill and debt ceiling) and with Iran (over nuclear issues and loosening of oil sanctions) have hit some snags. Inflationary pressures should prove temporary.

In other news:

  • We believe the economic recovery is on solid footing, despite narrowed bond yields. Low rates and lower credit spreads seem supportive of equity markets.
  • There is also a continuation of money being added to the economy, and we expect that stocks will continue to go up and yields will continue to fall.
  • Savvy stock investors should consider using temporary pullbacks as an opportunity to strategically add to portfolios.
  • If you’d like more insight into June’s market behavior, please visit our website.

As always, we thank you for your continued confidence in us. We’ll be sure to keep our eyes on the markets and relate anything of relevance. If you have any questions, please reach out at your convenience.

Sincerely,

Carlie Dugan, CFP®
Managing Partner, Cornerstone Financial Partners LLC
Financial Advisor & Branch Manager, RJFS

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