Market Commentary September 30, 2022
Global equity markets continued their decline during the quarter as Central Banks around the globe tighten financial conditions and fears of a global recession rise.
Most of the U.S. equity market has re-entered a bear market, defined as a 20% decline or more, with Energy being the only sector posting a gain year to date. The midsummer rally was quickly defeated by a bad inflation print and a hawkish Fed Chair Powel speech at Jackson Hole.
