Quarterly report
Large caps and Value outperform during Q1 amid a broad pullback in US equities
The narrative around US exceptionalism was challenged over the quarter with higher inflation expectations and renewed concerns around economic growth complicating further monetary policy action. Long yields declined supporting rate-sensitive market segments. However, industry leaders from the last year such as Technology and Discretionary posted steep losses detracting from index returns.
Key highlights:
- Large caps outperform in Q1
- Value outperforms Growth
- Tech and Discretionary detract significantly
- Earnings outlook dips
- Valuations de-rate
- Russell IPO inclusion activity declines
Authored by FTSE Russell’s Global Investment Research team, this quarterly publication provides a deep-dive into the performance and key market drivers of US equities, viewed through the lens of Russell large-cap (Russell 1000), small-cap (Russell 2000), Growth and Value indexes. It's part of a series of reports, available by email as soon as they are published.
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