August 2022

Market Flash - July 2022

Both equity and fixed income markets rallied meaningfully in July, as the “bad news is good news” mindset encouraged investors to re-embrace risk assets. We say “bad news is good news” because other than the hope that the Fed will slow their pace of rate hikes or eventually cut due to recessionary fears, the markets received very little positive news on the month -- headline inflation came in at a post-COVID high of 9.1%, the Fed hiked the Fed Funds rate by an additional 75 bps, and corporate earnings have been mixed at best.