Market Thoughts for September 2022
Brad McMillan, Commonwealth’s CIO, recaps the market and economic news for August. U.S. and developed international markets ended the month down by 3 to 5 percent, and fixed income declined. The primary driver was rising rates. Higher rates provide for lower stock market values, and with fears of a recession taking down expected earnings, the market had a double whammy. Still, there was good economic news. Job growth beat expectations, and consumer and producer inflation showed signs of peaking. Are there risks ahead? Stay tuned to find out.
