U.S. economic growth remained resilient, with GDP growth reaching 2.5% in the second quarter, following 2.1% growth in the first quarter and weaker growth in the previous quarter due to the government shutdown.
Markets are pricing changing expectations around monetary policy, weighing the possibility of a rate hike in July and potential rate cuts later in the year.
The Federal Reserve (the “Fed”) is entering a new phase under Kevin Warsh, with expected changes in policy communication, including less forward guidance and fewer public statements from Fed officials.
Market participation continued to broaden in the U.S., with the Russell 2000 index of small and mid-cap companies gaining 3.1% during the month.
Alternative investments are drawing attention amid market volatility, with the SpaceX IPO creating optimism around potential exits in private equity.
Private credit continues to require selectivity, discipline, and thorough due diligence when evaluating opportunities in the asset class.
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