Brad McMillan, Commonwealth’s CIO, recaps the market and economic news for April. U.S. markets were down between 5 percent for the Dow and 14 percent for the Nasdaq, while international markets fell between 5 and 7 percent. Rising interest rates drove the declines, with the Fed signaling it intended to keep tightening monetary policy. Still, the U.S. economic news was positive. Hiring remained strong, supporting consumer confidence, and business confidence and investment remained healthy. So, where do we go from here? Stay tuned to find out.
If you’re a fixed income investor, there’s bad news—and good news. The bad news: so far this year, rising interest rates have caused bond prices to fall and led to declines for most fixed income investors. You may be wondering what caused this decline and what may be expected for the future (spoiler alert: there’s good news on the horizon). Read more...
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