After experiencing a turbulent 2022, January provided a strong start to the new year. This occurred despite mixed earnings results, as the markets digested several positive countervailing trends, including better-than-expected GDP growth, a slowing pace of inflation as well as expectations for reduced rate hikes by the Federal Reserve (Fed).

Markets rallied strongly during October, driven in part by a new policy “pivot” narrative which revolved around the potential slowdown in the pace of rate hikes being implemented by the Federal Reserve (Fed).

July provided relief across many asset classes as a sizable late month bounce, in large part triggered by the market’s view for potential slowing in the pace of future rate hikes by the Federal Reserve (Fed).