1Q 2023 Market Commentary
Following a gut wrenching 2022, stocks and bonds rallied sharply in January posting +6.3% and +3.2%, respectively, amid optimism that the Fed would soon pivot away from continuing rate hikes. However, stronger than anticipated economic data in February quickly dashed those hopes as both markets pulled back on average some (2.6%). In these inflationary times, it now seems that any good economic news is construed as bad news by the Fed!...more
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