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Global Equity markets posted strong returns over the quarter
with both International equities and U.S. equities returning
over 10%. Fixed income markets were also positive over
the quarter.
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U.S. equities returned 11.0% (Russell 3000) with Information
Technology and Telecommunication Services as the best
performing sectors and Energy and Health Care as the worst
performing sectors. In a reversal from Q1 2025, large cap
growth outperformed large cap value by about 1400 basis
points (17.8% for Russell 1000 Growth vs. 3.8% for Russell
1000 Value).
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International equities and Emerging Markets equities
performed well over the quarter, returning 12.1% (MSCI
EAFE) and 12.0% (MSCI Emerging Markets), respectively.
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The broad U.S. fixed income market returned 1.2%
(Bloomberg Barclays Aggregate) over the quarter. The Fed
held the Fed Funds Rate steady over the quarter, and the 10-
year treasury rate remained largely unchanged from the
previous quarter end.
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The unemployment rate ticked down slightly to 4.1% this
quarter from 4.2% at the previous quarter end.
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