Posts Tagged ‘investment commentary’
2023 3rd Quarter Investment Commentary
After a strong first half, stocks, as measured by the S&P 500 TR, pulled back during a historically weak third quarter. Economic data continued to be stronger than expected and even showed signs of accelerating. This, amongst other factors, caused long term bond yields to increase significantly during the quarter. We ended the quarter…
Read More2023 1st Quarter Investment Commentary
Stocks, as measured by the S&P 500, rose for the second quarter in a row but remain in a year-long trading range. The second largest bank failure in U.S. history quickly changed bond yields. Markets were priced for interest rate cuts by the end of 2023. The dramatic change in interest rate expectations caused a…
Read More2022 4th Quarter Investment Commentary
Despite a fourth quarter rally, both U.S. stocks and bonds declined for the year causing a 60/40 portfolio to have its third-worst return since 1926. We expected better days ahead. Markets may be down, but most of the damage was done in the first half of the year. Since the end of June, stocks…
Read More2021 4th Quarter Investment Commentary
• The S&P 500 Index gained 11% on the quarter and over 28% on the year, buoyed by strong corporate earnings growth. • The U.S. economic recovery remained on firmed footing despite inflation, COVID-19 and supply chain disruptions. Going forward, extreme fiscal and monetary support will likely be withdrawn in favor of the private…
Read More