PitchBook’s research team released its June 2026 Global Markets Snapshot on June 30, providing a clear view of performance across public equities, private capital, debt, real estate, and commodities. The report captures a month of solid equity gains amid regional differences, continued deployment in private markets, and generally stable credit conditions.
According to insights from PitchBook, global equities delivered positive year-to-date results through the end of June.
The S&P 500 rose 10.2 percent, while the Nasdaq Composite gained 13.1 percent.
The broader Morningstar Global index advanced 11.6 percent.
European markets showed more moderate strength, with the FTSE 100 up 7.6 percent.
Asian equities stood out, particularly in Japan, where the Nikkei 225 surged 39.2 percent year-to-date and 74.5 percent over the trailing twelve months.
Three-year annualized returns remained steady across most major benchmarks, reflecting sustained recovery momentum.
Sector leadership was pronounced. Technology and communication services posted the strongest three-year total returns at 116.1 percent and 113.1 percent, respectively.
Growth stocks maintained a narrow lead over value stocks on a year-over-year basis, though the outperformance gap has narrowed considerably from earlier peaks.
The research team notes that these patterns align with broader global recovery trends, with Asia—especially Japan—driving much of the recent outperformance.
Private market activity stayed lively.
Several venture capital and private equity-backed companies completed significant listings during the month, spanning business services, technology, and other sectors. Notable June deals included large venture rounds in software and energy platforms.
The PitchBook team highlights ongoing strength in software and business services for both venture capital and private equity investment.
Indices tracking VC-backed and PE-backed IPOs showed healthy three-year performance relative to broader market benchmarks.
PitchBook added that debt markets reflected expansion alongside steady pricing.
US leveraged loan volumes grew, with institutional yields generally ranging from 8 to 10 percent.
High-yield bond option-adjusted spreads remained tight at roughly 2.8 percent in the United States and 2.7 percent in Europe.
Government bond yields varied by jurisdiction, with the U.S. 10-year Treasury near 4.8 percent.
Central bank policy rates stood at 3.8 percent in the U.S. and 3.0 percent in the euro area.
Distressed loan ratios continued to improve from prior peaks, pointing to better underlying credit quality.
Real estate markets presented a mixed but constructive picture.
Global REITs delivered strong three-year total returns above 100 percent overall, led by industrial properties.
Housing activity showed steady permit issuance, while average 30-year fixed mortgage rates remained elevated in the mid-to-high 6 percent range.
Commercial mortgage-backed securities recorded overall delinquency rates around 7.1 percent across property types.
Commodity markets experienced sharp moves. Gold prices climbed more than 121 percent over the past year, with notable gains also recorded in oil and agricultural commodities.
PitchBook’s analysis portrays a global markets environment marked by equity resilience, selective private market momentum, and supportive credit fundamentals.
The research report has now concluded that regional divergences favor Asia and technology-oriented sectors, while commodity volatility and housing dynamics warrant ongoing attention. The update suggests investors can expect continued selective opportunities as markets navigate the second half of the year.
