Main Content

Market Data

QuarterlyReports
Market Data
2023: 4th Quarter
After embarking on 2023 with modest to low expectations, the year ended better—from an economic standpoint—than most anticipated. With challenges ranging from escalating interest rates and lingering inflation to numerous bank failu...
After embarking on 2023 with modest to low expectations, the year ended better—from an economic standpoint—than most anticipated. With challenges ranging from escalating interest rates and lingering inflation to numerous bank failures, geopolitical concerns, and looming fears of a recession, 2023 carried its share of uncertainty and adversity. The continued conflict in Russia/Ukraine, combined with the more recent devastating attacks on Israel and subsequent tensions in the area, further exacerbated volatility and uncertainty. The economy ultimately proved an ability to withstand such hurdles, however, leading to an emerging confidence in 2024’s capacity to do the same. While risks remain, and election years only add to the inevitable turbulence, “cooler inflation, rising wages and the prospect of falling interest rates will help to keep the economy on track.” (Northern Trust). As fears of a recession continue to dissipate, the path to a soft landing appears promising.
2023: 3rd Quarter
We are deeply saddened by the recent terrorist actions of Hamas and the tragic loss of innocent life. Our hearts go out to all who are impacted. President Daniel Pinto of JP Morgan Chase & Co. spoke about the vulnerability of the ro...
We are deeply saddened by the recent terrorist actions of Hamas and the tragic loss of innocent life. Our hearts go out to all who are impacted. President Daniel Pinto of JP Morgan Chase & Co. spoke about the vulnerability of the robust U.S. economy to political and economic risks. He noted that while consumers and businesses are strong, with high levels of savings and robust finances, issues such as persistent high inflation and elevated or still-increasing interest rates would create additional stress. Pinto also noted how a string of geopolitical risks, including the Russian invasion of Ukraine, the Hamas attack on Israel, and issues surrounding the US/China relationship, could trigger a deterioration of the economy (Bloomberg)
2023: 2nd Quarter
The first half of 2023 was marked by continued economic uncertainty, having endured four U.S. bank failures, fears over debt ceiling negotiations, rising geopolitical uncertainty, and lingering concerns over inflation and rising intere...
The first half of 2023 was marked by continued economic uncertainty, having endured four U.S. bank failures, fears over debt ceiling negotiations, rising geopolitical uncertainty, and lingering concerns over inflation and rising interest rates. Despite the likely challenges still ahead, there are signs of a resilient economy: the S&P 500 had its 4th-best first half in the last 25 years, the labor market remains strong, consumers continue spending on big-ticket services and commodities, and corporate debt levels appear stable (J.P. Morgan). While the Fed decided against an additional rate hike at the recent June meeting, further tightening is possible in the months ahead, though at a slower pace than what’s been experienced over the last 16 months. Recession fears persist, but there remains hope for a soft landing, with marginal economic growth expected in the quarters ahead.
2023: 1st Quarter
The first quarter of 2023 has seen a continuation of the economic uncertainty witnessed at year end 2022. The recent failures of Silicon Valley Bank and Signature Bank, and the forced merger of Credit Suisse have further rattled financ...
The first quarter of 2023 has seen a continuation of the economic uncertainty witnessed at year end 2022. The recent failures of Silicon Valley Bank and Signature Bank, and the forced merger of Credit Suisse have further rattled financial markets, and are likely to curb credit extension, impair growth, and potentially increase recession risk (Northern Trust). While U.S. inflation eased to 5% in March, its lowest level in two years, it remains well above the Fed’s 2% target, and another quarter point hike is on the table for May’s meeting. Although Chairman Powell confirmed risks are higher today, he believes “the path to a soft landing” is still possible, and that a recession would be “mild.” Jamie Dimon, J.P.Morgan CEO, echoed some optimism, highlighting the resiliency of consumer spending, the current strength of the job market, and low unemployment. “Looking ahead,” he says, “the positives are huge.”
Skip to content