-
U.S. equity markets rallied in the fourth quarter, rising
7.2% (Russell 3000) on moderating inflation. The
Consumer Price Index (CPI) peaked in June and has
seen steady improvement since.
-
International equities rose to a greater extent, posting a
14.3% gain over the quarter (MSCI ACWI ex U.S.).
-
The broad U.S. fixed income market showed some
improvement, up 1.9% (Bloomberg Barclays Aggregate).
-
Despite cooling economic growth, the U.S. labor market
remained tight during the quarter with unemployment at
3.5% in December.
-
The Federal Reserve raised interest rates 125 basis
points during the fourth quarter. Additionally, the Fed
expects further rate hikes in 2023 to combat inflation.
Download Full Report
