The week of September 5 (two weeks ago) saw a bounce for U.S. stocks from the prior week. However, last week delivered a downward reversal again. The week of June 13 remains the low point in the S&P 500 so far this year. The market is currently 6% above that point.

The Federal Reserve (Fed) is in focus this week. The financial markets are paying close attention to the Fed’s upcoming policy meeting, which will begin Tuesday. The central bank is expected to raise interest rates by another three-quarters of a point.

The 10-year U.S. Treasury yield topped 3.51% this morning, its highest level in 11 years. Rates across the board are still rising, and several nearer-term rates remain higher than the 10-year Treasury. As of this morning, the peak of the U.S. Treasury yield curve is the 1-year Treasury, which is 4.05%.

The trends of this year – dicey stock market action and a pronounced upward trend in interest rates – continue. These trends will eventually subside, but we believe we should stay mentally prepared for this pattern a while longer. As always, let us know if you have any questions or if we can do anything for you.

September 19, 2022

Market Update | September 19, 2022

The week of September 5 (two weeks ago) saw a bounce for U.S. stocks from the prior week. However, last week delivered a downward reversal again. […]
September 6, 2022

Market Update | September 6, 2022

Since our last Market Update two weeks ago, the direction of the U.S. stock market and bond yields have been down and up, respectively. Global stocks […]
August 23, 2022

Market Update | August 23, 2022

The stock market rally that began in mid-June paused last week. Yesterday, the pause seemingly evolved into a reversal of trend as major U.S. stock indexes […]
August 16, 2022

Sequence of Returns

Imagine you have an investment account that enjoyed a 12% gain two years ago, a 4% gain last year, and a 10% loss this year (if […]
August 8, 2022

Market Update | August 8, 2022

Last week was the third straight weekly gain for the U.S. stock market, as gauged by the S&P 500 index. It has been refreshing to see […]
July 25, 2022

Market Update | July 25, 2022

It is chancy to reason that a current trend will continue indefinitely. Linear patterns may persist for a while, but they’re bound to collapse eventually to […]
July 7, 2022

Market Update | July 7, 2022

The stock market made headlines by closing out the first half of 2022 with a -20% return. It was the worst first half to a year […]
June 20, 2022

Market Update | June 20, 2022

There seems to be a growing unease in the financial markets. U.S. stock indexes hit a fresh 52-week low on Friday. The S&P 500 is down […]
June 6, 2022

Market Update | June 6, 2022

Some of Wall Street’s top bank executives gave their views on the business climate last week. Making headlines was JPMorgan Chase CEO Jamie Dimon, who said […]
May 23, 2022

Market Update | May 23, 2022

My wife and I are about to take our first transatlantic flight since 2019. It’s exciting! We look forward to being in Europe again – fresh […]
Form ADV Part 2A
Form CRS