Do you feel like the economy isn’t making a lot of sense right now? Is there a mismatch between the headlines and how you’re personally feeling? If so, you’re not alone. There’s a big divide between the current data and the perception of many Americans. Here’s what I mean: When you look at the data, the economy …
In the first half of 2023, the stock market’s 17% return outperformed expectations. However, these gains were driven by the superior performance of only a few stocks who investors see as beneficiaries of recent advances in artificial intelligence. Since the overwhelming majority of the stock market has been directionless, we look to the bond market, which …
Relative Calm for the Stock Market The stock market has been more calm in 2023 than last year, with the range between the market’s high and low about half what we saw for each quarter of 2022. A “range-bound” market suggests there is disagreement about which direction the market should be heading. Which narrative will …
In 2022, financial markets were driven predominantly by high inflation and
