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Perspectives Newsletter: Q2, 2014
The markets love Fed Chair Janet Yellen. Virtually every time she spoke about monetary policy in Q2, they went up. The S&P 500 hit a new all-time high on June 25 after her speech reiterating the Fed’s dovish stance on interest rates and inflation. Within the index, leadership remained narrow. Risk appetite appeared to move back to emerging markets from domestic small cap, while US stocks continued to outperform other developed markets.