ReCAP

Summary On the heels of a July that was as hot as the temperatures outside, markets entered August seeking to maintain positive momentum. But after a choppy start, equities faded and interest rates shifted upward, leading to losses for most major stock and bond indexes. While inflation fell, aided by a steep drop in energy…

Summary July brought a sizeable rebound for both stocks and bonds as mixed news and cloudy economic outlooks gave way to optimism, with equity markets and interest rates rallying to the end of the month. The month began with more tough inflation news as the June CPI exceeded 9%, and while corporate earnings for the…

Summary Investors entered June with optimism, the previous month had provided hope that inflationmay be easing, perhaps giving the Fed some breathing room to slow the pace of thetightening cycle, and markets had produced positive returns in May. Perhaps the worst wasover? Instead, it was more bad news, as inflation came in higher than expected,…

Summary After a dismal April, and a late May rebound, U.S. markets ended May almost flat. Developed equities shrugged off global recession concerns to rally strong into month-end, erasing earlier losses. Emerging markets continued to be weighed down by China’s aggressive COVID lockdown measures. Interest rates reversed trend and declined in May, giving bonds their…