Brad McMillan, Commonwealth’s CIO, recaps the market and economic news for July. After a terrible start to 2022, markets rebounded in July. U.S. and developed international markets were up by 5 percent or more, with only emerging markets trailing. The primary driver here was the Fed. It has raised interest rates close to a neutral level, and markets are anticipating the worst of the tightening cycle has passed. But with the U.S. economy contracting for the second quarter in a row, can the rebound continue? Stay tuned to to find out.
A recession is identified by declines in the GDP for two quarters in a row, so you can expect the report released this week to trigger headlines indicating we are now officially in a recession. But are we? Before you worry too much, you heed to know a few things.
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