2024 Economic Review and 2025 Outlook 2024 was a banner year for equity investors and the U.S. economy. Our condolences to the recession doomsayers, especially to the fixed-income bulls. We, too, were caught off guard by bond weaknesses, particularly given that the Fed has cut rates by 1% since September. Shouldn’t bond prices go up […]
2024 Capital Markets Mid-Year Recap Written by: The Investment Committee Executive Summary The first half of 2024 was strong, albeit a much more concentrated rally versus the preceding Q4 of ‘23. Fundamentals drove nearly all the performance of the Mega Cap 7 stocks. Particularly for the market’s new AI darling, NVDA. Outside the “Magnificent 7”, […]
2023 Capital Markets Recap 2024 Outlook Written by: The Investment Committee Executive Summary The major themes from 2022 maintained their relevance in 2023, including the inflation outlook which has driven Federal Reserve interest rate policy, the health of the consumer, and the state of corporate earnings. After 3 years of upward price pressure, the financial […]
2023 Mid-Year Market Recap Written by: The Investment Committee From a West Coast regional banking crisis to the recession that never came, a tech rally fueled in part by an AI frenzy, and a better-than-anticipated Q1 earnings season. Going into Q1, some of the most notable Wall Street picks included energy, financials, industrials, and other […]
