We are continuing to closely watch as the economy re-opens and things are beginning to return to normal. The key points for May’s market update are:
- Our positioning continues to favor a return to normalcy and economic expansion that is beneficial to value stocks.
- Our equity strategies continue to become less concentrated in growth stocks, and more diversified amongst sectors and industries as the market searches for direction.
- We remain relatively short duration within our fixed income sleeve, expecting the 10-year to reach 2% by year-end.
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