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Market Highlights

• March continued a strong first quarter for US equities on the back of solid economic data and improved market breadth outside of the Magnificent 7.
• The S&P 500 was up +3.22% for the month and finished Q1 up +10.56% to set new all-time highs.
• Small Cap stocks enjoyed a strong month with the Russell 2000 Index rising +3.58%.
• Energy, Materials, and Utilities were the best performing sectors for the month.
• Growth stocks continued to lead Value over the course of the quarter, but Value outperformed in March.
• Developed International and Emerging Markets equities were positive for the month, although they still trailed domestic markets. The MSCI EAFE Index rose +3.29% while the MSCI Emerging Markets Index was up +2.48% for the month.
• The 10-year Treasury yield was little changed and ended the month at 4.21% while credit spreads tightened. The Bloomberg US Aggregate Index was up 0.92% in March and finished the quarter slightly negative.

Sources:

1. Morningstar Direct, MSCI

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