Capital Markets: Observations & Insights

Sector Performance ​ 2Q16 Review

• Lower interest rates helped drive outperformance in defensive, bond-like sectors (highlighted below)

YTD S&P 500 Sector Performance (%)

Q216 S&P 500 Sector Performance (%)

24.8

23.4

11.6

16.1

7.1 6.8

6.3

10.5

4.6

7.5

3.7

6.5

2.1

1.4

0.7 0.4

-0.3

-0.9

-3.0

-2.8

Energy

Utilities

Telecom

Energy

Utilities

Materials

Financials

Telecom

Industrials

Materials

Financials

Industrials

Health Care

Health Care

Info Technology

Consumer Discr

Info Technology

Consumer Discr

Consumer Staples

Consumer Staples

Source: FactSet as of 06/30/2016.

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