Effective Date: August 12, 2022
MARKET UPDATE SUMMARY
After a dismal second quarter markets gained substantially in July and early August. Inflation and monetary policy are driving the markets and the recent rebound has been due to an improving inflation outlook and the possibility of the Federal Reserve slowing its interest rate hiking cycle. It is possible markets fall back to the June lows, but with positive economic indicators it is likely markets continue to recover for the rest of the year. We continue to tax loss harvest in taxable accounts and recently changed the bond allocation by shifting some positions from short-term to intermediate term.
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