CWG Investment Committee: Three Quarters Down!
How did we get here? The rally out of the Covid downturn was euphoric in many areas, like hyper growths stocks, cryptos, SPACs, and private equity investments. The Fed prolonged the party in 2021, as did foreign central banks which continued to buy bonds, repress yields, and encourage speculators.
CWG Investment Committee: Welcome to September!
The S&P 500 rallied mightily off the June 17th bottom of 3,636 all the way up to 4,320 on August 16th; only to succumb to profit taking and Fed Chair Powell's sobering Jackson Hole, WY speech on inflation fighting priorities. In 15 trading days half of that rally was lost as reality set in that the Fed is not about to pivot to more easy money policy any time soon.