The Nasdaq-100 Index gained 16.4% since June 16

Equities Rebound in July.

Despite some turbulent months in the first half of the year, equites posted strong returns in July given the Nasdaq-100 Index gained 16.4% since June 16th, likely on the back of an anticipated dovish Federal Reserve. For the month, US growth was the best performer (+12.5%), followed by US mid-caps (+10.9%) and US small-caps (+10.1%). Bonds also fared well as high yield credit returned 6.7%, investment grade corporates gained 4.4%, and TIPs
rose 4.3%. Commodities posted mixed returns as both broad-based commodities and silver were up (+3.8% and +0.3%, respectively) while both gold and crude oil fell (-2.6% and -2.9%, respectively).