Monthly Note
July 1, 2023
July 5, 2023
What a difference a month makes! We’ve seen a sustained market rally for most of the month. We saw a little bit of a consolidation period at the end of the month, but that is very healthy, and we’ve even rebounded from most of that decline at the time of this writing. I will also be doing these monthly notes in video format, which can be found here, if you prefer that.
Last year I wrote several times about how the market was acting very counter-intuitively. Since interest rates were driving so many things, good news for the markets would often result in down days, because the fear was that rates would continue to be hiked. We are now seeing that reverse and the markets seem to be acting “normally”. That is to be expected as we get closer to the end of the Fed’s tightening period.
There are still plenty of unknowns and the big fear for the future is that we will go into some type of stagnation after we recover. It doesn’t seem as bad, but I consider flat markets worse than down, then up, markets. Only time will tell, but for now the markets are rebounding well.
I’m back from all my travels and we are back into the normal routine. Lynn is busy scheduling annual appointments according to our schedule. However, don’t ever hesitate to reach out to us or use the appointment scheduler tool that you can find on the website.
Enjoy your summer!