Enclosed: Your 2023 Midyear Outlook

2023 Midyear Outlook Issue

At this point last year, we were coming off a summer rally in the markets that proved to be a head fake: The S&P 500 index ended the year down almost 20%. Market sentiment was then that inflation was here to stay and would roll over corporate earnings, bringing further pain to equity holders. Not yet. 2023 is shaping up to be a banner year: Markets are up almost 17.5% with an annualized gain of nearly 30%. Sentiment now is that the landing will be soft, a recession avoided, and a vibrant consumer will pull the economy through. But who knows?

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