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Monthly Market Overview - June 2018

06.25.2018

Books on shelf

May brought more turbulence to the markets with the Italian political coalition of 5-Star and the League raising the possibility of new elections which could become a referendum on whether to leave the European union. Emerging market countries such as Argentina, Brazil, and Turkey experienced a major drop in the value of their local currencies and an increase in credit spreads on dollar debt due to the prospect of higher rates and deficits in the US. Despite this, US equities rallied, especially tech stocks, with the Nasdaq hitting all-time highs – up nearly 11% year-to-date.

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