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In the wake of the Fed’s announcement of a new policy objective—to “sustain the expansion”—U.S. Treasury and stock markets approached record highs in the second quarter, and the 10-year U.S. Treasury yield hit a multi-year low. Equity Markets The S&P 500 Index rose 4.3%, bringing its year-to-date return to 18.5%. Financials (+8.0%) were the best […]
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