top of page
  • John M West III, MBA, CFP®

Markets


The Federal Reserve remains committed to bringing down inflation. With strong job numbers and inflation that remains above the long-term target of 2%, it is increasingly likely the Federal Reserve will raise interest rates a few more times in 2023. A shallow recession also remains a possibility.


Cash & Fixed Income: High-yield corporate bonds led for all time periods. Aggregate bonds were the laggard for the past 1, 3, and 5 years while cash was the worst performer for the past 10 and 15 years.


Equities: Large U.S. stocks led for all time periods. Real estate was the worst performer for the quarter, 1 and 3 years, Small-cap stocks were the worst performer for the last 5 years, and foreign was the laggard for the past 10 and 15 years.

The market is looking past the economic slowdown even before it has occurred, which we feel is not wise. As a result, we will maintain our defensive positioning until the economic road offers more stable footing.


As a reminder, the index returns below should only be used as a very broad point of reference.


Recent Posts

See All

Will the Elections Cause a Slowdown?

Not only is 2024 an election year in the U.S. but national elections are being held around the globe. In fact, over 40% of the world’s population, or approximately 2.8 billion people, are expected to

Macroeconomic Update: Slowing, not Stalling

Persistent strength has been the hallmark of the economy over the past 12 months. Despite the Federal Reserve’s actions to rein in inflation by keeping interest rates elevated (thus cooling the econom

Markets

Large-cap growth stocks had a strong second quarter, pushing the S&P 500 to new highs. The rest of the equity markets have lagged significantly. The leadership continues to be very narrow. Bonds have

Comments


bottom of page