Market Commentary — June 14, 2021

Falling treasury yields helped boost growth stocks last week, pushing the S&P 500 Index to a record closing high. While headline inflation rose 5% year-over-year in May, the fastest pace since 2008, with a 3.8% rise in core CPI (excluding food and energy), the Fed remained dismissive of the data attributing it to temporary factors that will soon abate.

Jobless claims for the week ended June 5 came in at 376,000 vs. estimates for 370,000, marking the lowest level of the pandemic era.

Investors unwinded bond positions benefiting from price declines as the yield on the 10-year Treasury note fell to its lowest level in 3 months.

And flows into U.S.-listed ETFs remained at a steady pace with $14.5 billion flowing into the space. YTD inflows are up to $417.5 billion according to ETF.com, more than double the $179.4 billion of inflows seen a year ago.

Have a great week! Summer is in the air!
Jane Edmondson
CEO and Co-Founder

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EQM Indexes LLC is a woman-owned firm dedicated to creating and supporting innovative indexes that track growth industries and emerging investment themes. Co-founded by Jane Edmondson, a former Institutional Portfolio Manager with more than 25 years in the investment industry.

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