Quarterly Market Calls
January Market Call: 01.30.2024
Stocks and bonds rallied significantly in the fourth quarter of 2023 as the Federal Reserve declared its campaign against inflation was nearing the end, prompting optimism among investors about what is coming. We share our thoughts regarding what current data is indicating for the economic horizon.
October Market Call: 10.25.2023
Inflation reaccelerated to 3.7% during the third quarter of 2023, far above the 2% target of the Federal Reserve. Both the bond market and the stock market sold off during the quarter as a result, despite a still-robust job market and economy. We share our thoughts on the latest corporate earnings data and our outlook on what may happen for the balance of the year.
July Market Call: 07.25.2023
U.S. GDP expanded through the first half of 2023 even as economic indicators flashed warning signs over the past year. The U.S. yield curve, considered a key leading indicator, remains deeply inverted. This is consistent with investors anticipating future Fed rate cuts, which may happen if the economy slows significantly. On the other hand, the labor market remains incredibly robust. The U.S. economy depends heavily on the consumer, and low unemployment with rising wages tends to bode well for future spending. The S&P 500 Index continued the rally while the Bloomberg Intermediate Bond Index was down slightly in the second quarter. Perkins Coie Trust Company (PCTC) shares its perspective on second-quarter corporate earnings data and provides our thoughts about how these issues may shape the months ahead.
April Market Call: 04.25.2023
The economic environment during the first quarter of 2023 was characterized by mixed developments, including slowing inflation, higher interest rates, a robust labor market, lagging retail sales, bank failures, and a rebounding housing market. The S&P 500 Index and the Bloomberg Intermediate Bond Index were both up during the quarter after steep declines last year. Perkins Coie Trust Company (PCTC) shares its perspective on first-quarter corporate earnings data and provides our thoughts about how these issues may shape the months ahead.
January Market Call: 01.24.2023
Inflation fell further during the fourth quarter of 2022 as the Federal Reserve aggressively raised interest rates to slow the economy. Despite the interest rate hikes, the economy continued to grow and jobs remained plentiful. We share our thoughts about what is on the horizon for the year ahead.