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Reinhart Week in Review by Madison Investments 6.7.2024

May’s job numbers were far higher than expected, the European Central Bank cut rates and elections were held in major countries across the world. Read what Reinhart Fixed Income thinks these stories mean for markets in their Week in Review.

The S&P 500 Index ended the month up just shy of 5%, bringing the year-to-date return to 11.3%. Fixed income bounced back with a 1.7% return in May. However, the return of rising interest rates has suppressed performance, with the Bloomberg Aggregate Bond Index showing a 1.6% loss so far this year. The domestic stock market continued to be led by a small number of mega-cap technology firms.

Is improving inflation data enough to change the Fed’s sentiment? The Reinhart Fixed Income team shares their take on this and more in the Week In Review.

April inflation reports came in lower than expected after running hot for the first quarters of the year. Reinhart’s fixed income team dove into these reports and more in this week’s edition of the Week in Review. Read it all here.

Several Federal Open Market Committee members were vocal this week insisting that the current restrictive policy will take longer than expected to work, meaning rate cuts will eventually be needed but later than originally projected. Read the entire Reinhart Week in Review here.

This past month was another in many months of seesawing sentiment over the state of inflation and the state of the economy and their effects on Federal Reserve policy. Early this year, optimism over falling inflation produced widespread belief that interest rate cuts would be dropping as frequently as Caitlin Clark's threes. Stubborn inflation and a resilient economy had shifted speculation to one, two, or maybe just zero cuts in 2024. Worriers went so far as to postulate another rate increase, a possibility Chairman Powell brushed off, to the market's relief, in his May 1 statements.

This week the Reinhart Fixed Income team explored how the low April jobs number and the Fed's decision to leave the fed funds rate unchanged mean for the greater battle against inflation. Read their thoughts here.

First quarter GDP came in below expectations indicating a slowing U.S. economy, and inflation saw an uptick from February; overall appearing to plateau above the Feds target. Read what Reinhart fixed income thinks about these key economic indicators in their Week in Review.

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commentary

Reinhart Week in Review by Madison Investments 6.7.2024

May’s job numbers were far higher than expected, the European Central Bank cut rates and elections were held in major countries across the world. Read what Reinhart Fixed Income thinks these stories mean for markets in their Week in Review.

Monthly Market Update - June 2024

Reinhart Week in Review by Madison Investments 5.31.2024

Is improving inflation data enough to change the Fed’s sentiment? The Reinhart Fixed Income team shares their take on this and more in the Week In Review.

Reinhart Week in Review by Madison Investments 5.17.2024

April inflation reports came in lower than expected after running hot for the first quarters of the year. Reinhart’s fixed income team dove into these reports and more in this week’s edition of the Week in Review. Read it all here.

Reinhart Week in Review by Madison Investments 5.10.2024

Several Federal Open Market Committee members were vocal this week insisting that the current restrictive policy will take longer than expected to work, meaning rate cuts will eventually be needed but later than originally projected. Read the entire Reinhart Week in Review here.

Monthly Market Update - May 2024

Reinhart Week in Review by Madison Investments 5.3.2024

This week the Reinhart Fixed Income team explored how the low April jobs number and the Fed's decision to leave the fed funds rate unchanged mean for the greater battle against inflation. Read their thoughts here.

Reinhart Week in Review by Madison Investments 4.26.2024

First quarter GDP came in below expectations indicating a slowing U.S. economy, and inflation saw an uptick from February; overall appearing to plateau above the Feds target. Read what Reinhart fixed income thinks about these key economic indicators in their Week in Review.

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