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During the second quarter the broader equity markets continued to appreciate. However, there has been significant dispersion in returns this year. The gains of the S&P 500, which is weighted according to each company’s size, were extremely concentrated, with the largest five
After a challenging 2022, the first quarter of 2023 proved to be equally volatile. The year began with a strong equity rally in January, driven by better-than-expected inflation reports. February witnessed a pullback as declines in inflation moderated. A volatile March, punctuated
In terms of the markets and news in general, 2022 was the kind of year one might prefer to forget. It was a year that experienced the residual impacts of the pandemic, including its associated supply chain disruptions, a Russia-Ukraine war that
The stock market declined for the third consecutive quarter, the first time this has happened since the Great Recession of 2008/2009. Year-to-date through September 30, the Standard & Poor’s 500 was down 24% and the NASDAQ was down 32%. Herein the focus
In terms of the markets, the first two quarters of 2022 were certainly periods one would like to forget. Equity markets recorded their worst first half performance in over 50 years. The bond market, which usually provides respite during volatile times, also
We entered 2022 with a focus on impacts from the Covid Omicron Wave, rising inflation and the likely response from the Federal Reserve. In February, Russia invaded Ukraine. The war triggered not only concerns about an escalation of the conflict and potential
Contrary to a negative picture inferred from recent market volatility, the economy begins the new year in good health after a robust fourth quarter. This strength comes despite conspicuous headwinds such as a new Covid strain, disfunction in Washington, Russian threats, and
Briefly put, the economic expansion continues, but at a disappointing rate. Early in the third quarter a resurgence of Covid-19 infections brought on by the delta variant fostered renewed restrictions, delayed openings, and reductions in consumer expenditures. In addition, some of the
Just over halfway through 2021, it is clear we are witnessing growth and change perhaps most comparable to 1946, just after the end of World War II. While the massive shifts back then were generally in one direction, from war-time production and
Helping the markets, during the first quarter gross domestic product expanded a robust 6.4%. The pace of activity is well above pre-Covid levels, which is stunning considering that there are 5.4 million fewer full-time workers and 2.7 million fewer part-time workers now