Equities markets ended one of the better first halves of a year in quite some time by the end of June. Market participants have become more confident that the economy is strong enough to shrug off the historic pace of rate hikes, banking system troubles, and stubborn inflation data. However, that suggests the Fed will have to keep rates higher for a more extended period and bond markets sold off.
The whiplash investors have experienced—from the exceedingly poor performance across stock and bond markets in 2022 to the healthy rebound in the first half of 2023—goes to show the benefits of being a patient investor.
What does the second half of 2023 hold for investors? No one knows. But just as we know an ice cream cone will melt more quickly on a hot summer day (July is National Ice Cream Month after all), we also know that over time markets reward patience. It may sometimes be a Rocky Road, but it’s worth the journey.
For more details on markets, see the June Market Commentary below.
Articles of Interest
Will Inflation Hurt Stock Returns? Not Necessarily.
Will stock returns suffer if inflation keeps rising? A look at equity performance in the past three decades doesn’t show any reliable connection between periods of high (or low) inflation and U.S. stock returns.
Higher Inflation Not the End of the 60/40 Portfolio
Two investment experts discuss expectations for U.S. inflation and returns, inflation-hedging assets, and the long-term viability of the 60% equities/40% bonds portfolio.
The Best 3 Money Moves to Make This July
We’re halfway through 2023, which means it’s time to give your finances and investments a check-up…and make a few smart decisions.
The Best Ice Cream in Every State
In celebration of summer and National Ice Cream Month–here’s where to order a scoop of the best ice creams in the U.S.
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