Quick Take:  Stocks set new highs during May as signs of a slowing economy led bond traders to pull forward expectations of rate cuts.[1]  Treasuries had their best month in 2024.[2]   Stock market performance broke more records in May, as the S&P 500 gained 4.8% while the tech-heavy Nasdaq added 6.9%.[3] Both indexes posted […]

Quick Take: Lingering inflation weighs on investors.[1] With as little as one rate cut now anticipated for 2024, Treasuries sold off, sending yields higher and stocks lower.[2]   As investors focused on disappointing inflation readings, major equity indexes ended a five-month winning streak to move lower in April.[3]  By the close of the month, the […]

Quick Take: Stock markets join interest rates in staying higher for longer as economic strength continues.[1]     Back in 2022, the phrase “higher for longer” had a tendency to strike fear in markets. The concern was that interest rates would stay high for too long and squash growth. Now that we seem to be […]

Quick Take: Major stock indices continued to reach all-time highs, as the Nasdaq joined the party.[1] Expectations of fewer rate cuts did little to dampen the rally.   February saw the stock market surge again, as the S&P 500 kicked off its best start to the year (S&P 500 +5.2% in February) since 2019.[2] Market […]

Quick Take: Stocks repeatedly hit all-time highs as they rallied for a third straight month.[1],[2] Fed officials held interest rates steady while Chair Jay Powell all but dashed hopes of a March rate cut.[3]    Stock markets rang in the new year with optimism, notching new record highs to mark a bull run that started […]

Quick Take: Stocks and bonds defied expectations in 2023 as stocks soared and volatile bonds ended up nearly where they started the year.[1]   Flash back to the start of 2023, and the mood across markets was glum. Analysts, expecting a looming recession, advised a shift away from stocks towards the relative safety of bonds.[2] […]