We’re pleased to share our Second Quarter Market Review.
The second quarter of 2025 delivered strong performance across most major markets. International and Emerging Markets extended their momentum from an excellent first quarter, while U.S. equities rebounded with solid gains. Although headlines often spotlight a handful of dominant U.S. tech stocks, this quarter served as a valuable reminder that market leadership can come from a broad range of sectors and regions. International markets, in particular, made a notable contribution to overall returns.
Bonds posted modest gains, with short- and intermediate-term interest rates declining, even as long-term U.S. Treasury yields edged higher. Fixed income continues to play an important role in providing stability and income – especially for retirees drawing from their portfolios.
As always, we encourage stepping back to view the long-term picture. On page 4 of the report, you’ll see that most asset classes continue to deliver strong one-, five-, and ten-year returns. This underscores the value of maintaining discipline and staying invested in a well-diversified portfolio.
