Was July A Hot Month For Markets?

With summer in full swing, are things starting to heat up for markets? Looking back on July, it was another good month for stocks. The U.S. indices all saw gains in the low single digits. Here, the Nasdaq performed best, with tech stocks continuing their rally. We also saw positive results on the international side. Developed markets were up by about the same as the U.S., and emerging markets jumped sharply. On the other hand, there was one not-so-bright spot: fixed income was weaker, with the U.S. Aggregate Bond Index down slightly.

Overall, financial markets were in a risk-on mode, which benefited riskier investments (e.g., tech stocks and emerging markets) at the expense of less dynamic ones.