Second Quarter 2022 Market Comments

The second quarter of 2022 was a difficult period for both stocks and bonds as the Federal Reserve, faced with unacceptable high inflation reports, lifted interest rates in June by 75 basis points. This was the highest rate increase implemented since 1994. The credit markets anticipate another 75 basis point increase later this month.

May 2022 Market Comments

The U.S. financial markets were quite weak in the first quarter, with broad-based stock and bond indexes down roughly 5% and 6% respectively during the period. April saw an acceleration of the equity market decline, with the S&P 500 index and NASDAQ composite index down 8.7% and 13.2% respectively for the month.

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Nothing in these materials should be construed as investment or legal advice or a recommendation to purchase or sell securities. The information is not intended as an offer to provide advisory services in any state or jurisdiction where such offer would not be permitted under applicable law.

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