Markets

I like the term “correction.” It implies that when markets sell off, they’re doing something right.

The market gave us lots of gyrations with very little meaning to it.

A lot of clients touched base to talk about the failure of Silicon Valley Bank.

Happy Spring! At least it’s spring in Greenville, SC where 3 of the last 5 years, winter ended in mid-February.

Inflation has finally forced the Fed’s hand.

(but there are echoes)

• Some economists are afraid of long term high inflation like we experienced in the 1970’s.
• They believe it will take a bad recession to get inflation under control.
• It’s hard to see through to the end of the process, given covid policy in China, the war in Ukraine, and unruly domestic politics.
• However, we don’t see the scenario as so dire, and we expect the US to weather the storm with slowing growth or possibly a mild recession.

Well, we’re not in no man’s land anymore!

Trouble ahead, trouble behind, watch your speed, don’t lose your mind.