presidential election and there is a lot on the plate. Despite all of this - there's a prevailing sense of both optimism and concern among experts regarding U.S. equities. And while it was a difficult month for stocks – The S&P ended up losing 3% up from a loss of 5.6%, while the Nasdaq lost 2.6% but not before giving up 7.5% as we moved thru the month. The view is that the recent setbacks are temporary, believing it's merely a pause in the market's upward trend.
There is still a strong underlying confidence in the resilience of the economy and the potential for continued growth in the stock market. But let's not pretend that there are NOT challenges ahead. There are! Inflation remains a concern, Treasury funding is a concern – what will Janet bring to market and what will that do to yields? We have now seen the 2 yr. kiss and pierce 5% with the 10 yr. not far behind – and remember – a 5% 10 yr.
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