Overall Market Backdrop, June

• While there were periods of volatility within the equity markets in June, the majority of regions showed strong returns with the S&P 500 leading the way.
• In response to many investors being fearful of inflation overshoots, the Federal Open Market Committee delivered a hawkish surprise with the forecast suggesting two rate hikes in 2023.
• Quality was the best performing Factor in June, returning a modest 6.67%.

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