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First Republic Bank Economic Quarterly Update

First Republic Bank Economic Quarterly Update

NAFA member, First Republic Bank, shares their First Quarter/2021 Quarterly Update.  

Highlights:

  • The U.S. economy shifted into a higher gear after stalling in winter, as some Americans benefited from additional stimulus funds, vaccines increased consumer confidence, and businesses ramped up hiring.

  • Equity markets overcame bouts of volatility and closed the quarter on a positive note, with investors gravitating toward cyclical sectors including value stocks, small caps and international equities.

  • The 10-year U.S. Treasury yield rose to its highest level in over a year, reflecting stronger growth and inflation prospects following increased vaccinations and the passing of another round of stimulus.

  • Going forward, we favor equities over bonds and cash on a 12-month horizon as the former is likely to continue benefiting from an improving economic backdrop, higher corporate earnings and low interest rates.

View the entire report here.  

This report was originally published by First Republic Bank on April 8, 2021.

 

 

 

 


 April 12, 2021