Recession concerns continued to stalk capital markets throughout the Third Quarter after a difficult first half of the year despitesoftening inflation data. A Consumer Price Index (CPI) spike of 9.1% in June was followed by a relatively lower July reading of8.5%. This...
Let us begin by briefly reflecting on the point that contributed to the worst first half of a year for equity markets since 1972. The May inflation reading of 8.6% exceeded expectations and caused a swift reaction from the Federal Reserve. The 75-bps rate increase...
