Investor sentiment was fickle during the third quarter, resulting in meager performance for most investable assets. Equity markets echoed the rebound in corporate earnings, reaching new highs during the first weeks of summer. At the same time, bond yields fell to levels not seen in months, suggesting bond markets anticipated slower economic growth. By September surging inflation, the threat of tighter U.S. financial conditions, heavy handed regulation in China and the continued spread of COVID-19 had rattled stock and bond investors.

RECENT INSIGHTS

May 5, 2023

Markets and the economy remained on a better-than-expected trajectory so far in 2023. Inflation is higher than desired but has...

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April 14, 2023

The first quarter of 2023 saw strong gains for stocks and bonds. Investor sentiment was fickle during the quarter as...

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March 9, 2023

After an exuberant January, investors took a step back as concerns reemerged that inflation and tighter financial conditions could derail...

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