Brad McMillan, Commonwealth’s CIO, recaps the market and economic news for September. It was a bad month for markets, which were down between 8 and 12 percent for the month both here and abroad. The decline was driven by interest rates, which rose sharply. Despite the market pullback, there was some positive data for the last quarter. Job growth was down but remained strong by historical standards, and both major measures of consumer confidence rose. So, what are the chances of a recession in the near future? Stay tuned to find out.
Market Thoughts for October 2022