May Edition of Quilty's Market Monitor. Our Core Satellite & Space index rose 4.3% in May, underperforming the S&P 500 (up 6.2%) but in line with the MSCI Global (ex-U.S.) index at 4.4%. Sectors that outperformed included Space Hardware (up 21%) and EO (up 11%). Starlink competition continues to weigh on the Satcom sector, with the Big4 gaining 2.3% and Other Operators declining 3.5%, including EchoStar’s 21% haircut (Chapter 11 woes).​