Integrated Equity Insights: Measuring equity market sensitivity to interest rate changes
The second quarter of 2024 was marked by continued U.S. mega‑cap growth leadership, mixed economic data that appear generally supportive of declining inflation and a healthy economy (“no landing” or “soft landing”), and the start of interest rate cuts abroad, especially in Europe. We highlight three themes:
– Continued U.S. mega‑cap growth leadership: The Russell 1000 Growth Index continued to lead broad global markets (Figure 1), reflecting extremely strong company fundamentals and ongoing investor interest in artificial intelligence (AI). The leaders this quarter continued to be the large, high‑quality, high‑profitability firms that have had strong momentum over…
