Global Asset Allocation Team Market Update – August 2023
August 3, 2023 | Market Commentary, Public Markets
The third quarter got off to a roaring start. While recession fears have been building given the Federal Reserve’s most aggressive tightening cycle in decades, a string of positive economic data surprises and signs of easing inflationary pressures provided a dose of optimism that policymakers may achieve a soft landing whereby central banks return price stability without tipping the economy into recession. Meanwhile, the cascade of second quarter corporate earnings results have been stronger-than-expected, which also bolstered investor risk appetite in July.
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