Dear Friends, The Federal Reserve ended its two-day Federal Open Market Committee meeting last Wednesday, and the outcome was broadly in line with market expectations. As expected, the Committee raised short-term interest rates by 75 basis points (0.75%) to take the fed funds rate to 2.5%. …
Dear Friends, The S&P fell 21% since January 2022, resulting in the worst first-half performance since 1970. With US equity markets hovering in bear market territory, it is more crucial than ever that investors keep a steady hand.
The battle of the bands that’s played all year—growth vs. value —could keep blasting away in April as investors ponder rising Treasury yields, a reopening economy, and a Fed that’s staying on the sidelines. It’s a bit of a tug-of-war.