Market Overview


  • 2021 is off to a solid start with S&P 600 Small Cap Index in the lead posting gains of 18.2% for the quarter, outperforming S&P 500 by 12.1%;

  • Information technology was one of the worst performing sectors of the S&P 500 with a return of 1% for the quarter while energy stocks saw a rebound of 30.8%;

  • Inflation concerns shook up the market that consequently turned into a sell off in the bond market which drove up rates. Federal Reserve Chairman Powell and Secretary of Treasury Yellen promises to keep inflation above 2%;

  • Optimism came about with the success of the vaccine rollout as Biden promised to open up registration to all adults on May 1st as well as the implementation of another stimulus check rollout;


  • With about one third of the U.S. adult population vaccinated as of late March, we believe we will see recovery in consumer discretionary over the next few months;

  • Analysts are anticipating an acceleration of earnings this April with and are looking to it as proof of economic recovery;

  • Although concerns over inflation brought about interest rate volatility this past quarter, we are not anticipating a rate hike until the end of 2022 at the earliest;

  • Markets evidently rotated out of growth stocks and into value over the past months and we believe investors will continue to do so;

  • We are maintaining our overweight allocation on corporate bonds and believe it will continue to outperform other areas in fixed income. We believe credit spreads will continue to tighten.;

Job Recovery is in Progress

Job Recovery is in Progress  


NASDAQ Lags as Value Stocks Shine

NASDAQ Lags as Value Stocks Shine 


Tightening Spreads

tightening spreads 



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