In the month of June, the U.S. markets rallied impressively as the overhanging concern of the debt ceiling was alleviated, providing a boost to market sentiment. Furthermore, a brief military coup in Russia emerged and dissipated almost as swiftly as it began, easing geopolitical tensions for now.
The Federal Reserve decided against raising interest rates in June. However, Federal Reserve Chairman Jerome Powell conveyed a clear indication that more interest rate hikes were on the horizon. During the month, the S&P 500 index rose 6.47 percent, the interest rates on the 10-year U.S. Treasury Note increased from 3.64 percent at the end of May to 3.81 percent, and the price of a barrel of oil dropped about $1 compared to the previous month, settling at around $70.50.