Fiscal Year-End and Mid-Year 2023 Market and Investment Review

The end of fiscal year 2023, and mid-point of the calendar year, marks the end of the pandemic years. At this point, many have returned to the workplace, at least part time, in-person meetings have become more frequent and, importantly, college campuses are full and commencement ceremonies were open to all as an occasion for families to celebrate achievement.

The capital markets have also given investors a reason to celebrate. Global equities have generated double digit positive returns and the rapid rise in interest rates that eroded the benefits of diversification in the previous fiscal year has paused. Many of the headlines have been familiar topics to those who have been investing since the early 2000’s: banking crises, technology stock outperformance, and debt ceiling negotiations. As Mark Twain said, “History doesn’t repeat itself, but it often rhymes.”

Download our complete Market and Investment Review here.