What a difference a couple months makes! Markets managed a remarkable comeback in the second quarter. While the S&P 500® Index’s 10.9% return for the quarter is very impressive, even more notable is its stunning 24% rally since the closing low on April 8th. The S&P is now up 6.2% year-to-date, which is probably hard for some to believe given widespread investor angst just a few months ago. Remember, it wasn’t long ago we penned an update in response to “Liberation Day” (April 2nd) and the threat of massive tariffs being imposed on trading partners. The market had declined 12% in just four days and was down roughly 18% from its highs at one point. What’s more, the CNN Fear & Greed Index stood at 5 out of 100, suggesting “extreme fear” among market participants. Now, the S&P is sitting at new all-time highs