Our last Market Now series came in March 2022 after Covid had peaked and begun to fade, when Russia invaded Ukraine. This week we think another pause to review conditions is appropriate given a number of dynamics at play.

First, the Fed has paused in its rate hikes as their gravity seems to have pulled many inflation indicators down. Employment remains tight, but shows signs of loosening. Real GDP rose at a healthy 2.4% pace for 2Q, yet real personal consumption decreased from 4.2% in the first quarter to 1.6%…

▶︎ Read August 7 2023 newsletter: here

▶︎ Chart of the Week: here (by Mickey Levy, chief economist, Berenberg US; Bureau of Economic Analysis/Haver Analytics)

(Any “forward-looking” information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition Past performance is no guarantee of future results. Investing involves risk; principal loss is possible.)