Hi, I’m Mike Walther with our May Investment Market Performance Recap. Let’s start with the key highlights of this past month. In May, we observed robust returns across most major asset classes.

US Large Cap Stocks were up by 5%. The S&P 500’s strong 2024 performance continued, largely driven by strong earnings in the technology sector.

US Small Cap Stocks also increased by 5%, benefitting from economic stability and increased investor confidence.

International Developed Stocks had a very good month rising by 3.9% while International Emerging Markets Stocks were essentially unchanged for the month.

Turning to the fixed income markets, the taxable bond index delivered a positive return of 1.7% driven by stable interest rates that have remained higher than they were at the start of the decade.

The Municipal Bond index was the only detractor this month with a slight decline.

Our managed risk strategies posted another month of positive performance as well.

As we approach the midpoint of 2024, we want to share some details about the investment markets around the world. The US stock markets have been strong all year boasting a 5% return for May and a year-to-date return exceeding 10%.

Countries like Spain and Italy also witnessed robust growth in May, further enhancing their impressive returns for 2024. Spain is up 11%, while Italy has delivered 15% growth this year. England and Germany also had strong returns of around 4% in May.

In contrast,   Brazil’s markets faced ongoing challenges, resulting in a negative return of approximately 15% for the year.

It is important to remember that while the US markets have been delivering strong performance, they are not the sole markets worth considering for investment. Embracing global diversification can mitigate risk and provides the opportunity to benefit from growth and development around the world. While our familiarity with US companies may be greater, overlooking the importance of global diversification can weaken an investment strategy.

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