Good morning! We hope everyone enjoyed their Memorial Day weekend and the unofficial beginning of summer.
- International equities generally outperformed their US counterparts in May with Frontier Markets (4.0%) and MSCI EAFE (3.3%) leading the way. MSCI EAFE Small Cap (2.0%) also outperformed domestic small cap as represented by the R2000 (0.2%).
- The R2000V (3.1%) was the highest performing US equity index during the month and has been, by far, the highest returning index over the last 1 year period (79.4%).
- The R1000G (-1.4%) and R2000G (-2.9%) were the only two equity indexes shown that had negative returns for May.
- REITs have quietly staged a bit of a comeback, with global REITs gaining 1.3% for the month and 16.8% YTD.
In fixed income:
- All indexes shown had positive returns for May.
- The ICE BoA 1-5 Yr Inflations Linked Treasury Index has had some of the best returns in fixed income over the last 1 month, 3 months, and YTD periods.
- Corporates outperformed similarly dated Treasuries and Munis during May; though YTD it has been munis that have been strongest.
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