Global markets had a positive month; Developed EAFE Markets posted a 4.69% gain and Emerging Markets added 1.34%.
Seven of the eleven sectors were in the red in April. Oil prices tumbled in April, forcing the Energy sector down 13.86%. The second worst performer was the Health Care sector, which fell 3.8% in part due to shares of UnitedHealth Group (the second largest company in the sector) plummeting after missed earnings and a cut to its full-year profit forecast, cutting 35% off its peak market cap of $575 billion in November 2024. Technology was the best performer with a 1.69% gain, followed by Consumer Staples, which added 0.2%.
Inflation fell to the lowest YoY level since February 2021, and Core Inflation came in under 3% for the first time in over four years. Oil prices tumbled in April; Brent crude oil fell 14.4% to $66.13 per barrel as of April 28th, while the price of WTI per barrel sank to $63.30. The Median Sales Price of Existing Homes rose back to its December 2024 level of $403,700 in March, the latest data available.
Mid-term treasury yields with durations between 1 and 10 years declined in April while the long term 20-year and 30-year both rose slightly. This treasury yield movement led the iShares Core US Aggregate Bond ETF (AGG) to increase 0.43% while the iShares 20+ Year Treasury Bond ETF (TLT) declined 1.36%.
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