Market Commentary

Q4 2022 Economic and Market Overview

The US economy posted modest growth in the quarter, but continues to grapple with high inflation, rising interest rates, and slowing employment growth. Within this landscape, the Bureau of Economic Analysis released the third estimate of the third…...more

2023 Outlook: Navigating Uncertainty

As we wrap up 2022, we acknowledge the whiplash that may be felt after ping-ponging between a brief but precipitous bear market in 2020, 18 months of substantial stock gains, and now a year of volatile markets and…...more

Q3 2022 Economic and Market Overview

The US economy struggled onward in the third quarter as surging inflation and resultant rising interest rates caused further economic contraction. The Bureau of Economic Analysis (BEA) released its third estimate of the second quarter real GDP, which…...more

Q2 2022 Economic and Market Overview

The US economy slowed precipitously in the quarter, as the Russian invasion of Ukraine and significant swings in inventory accumulation put a damper on growth. Against this backdrop, the Bureau of Economic Analysis released the third estimate of…...more

Q1 2022 Economic and Market Overview

The US economy generated accelerated growth in the quarter, as pandemic related restrictions had increasingly been lifted and the Omicron variant emerged too late to have impacted the data. Against this backdrop, the Bureau of Economic Analysis released…...more

Markets Memo: Russian Invasion of Ukraine

┬áTensions between Russia and Ukraine, which have been rising for years, came to a head this week. The Russian military operation against Ukraine is causing concerns about the potential impact on markets and the global economy. We offer…...more

2022 Outlook: Navigating Moderation

Following another year of strong market returns, our view of 2022 sees opportunity, but with far greater moderation. Our 10-year forward-looking market assumptions remain well below long-term averages, with muted returns expected across asset classes....more