commentary
2023 Year-End U.S. Equity Letter from Haruki Toyama
The U.S. stock market had a good year in 2023. The S&P 500 Index recovered all of its 2022 decline, and slightly more, ending the year up 26.3%. The story of the year was the glaring concentration of returns in the Magnificent Seven, as the press has dubbed them. These seven megacap technology stocks returned an average of 111.7% for the year, accounting for well over half of the total return of the S&P 500.
Read MoreReinhart Week in Review by Madison Investments 1.19.2024
Retail sales from December were surprisingly high and will likely make fourth quarter GDP estimates rise. What could this report mean for future Fed action? Read Reinhart Fixed Income’s thoughts on this and more.
Read MoreQ4 2023 Market & Economic Review
Download our quarterly communication with market and economics charts, and commentary on events of the previous quarter.
Read MoreReinhart Week in Review by Madison Investments 1.12.2024
December’s consumer price numbers came in slightly higher than expected, meaning a March rate cut by the Fed may be premature to achieve their 2% inflation goal. Read the Reinhart Fixed Income team’s Week in Review to learn more about this story and other news from the week.
Read MoreMonthly Market Update - January 2024
All it took to finish 2023 with a flourish was positive inflation news and a dovish Federal Reserve presentation in December that raised expectations for aggressive rate cuts in 2024. The S&P 500 Index rose 4.5% for the month, taking the annual return to a surprisingly robust 26.3%. Bonds also had a positive year, with the Bloomberg U.S. Aggregate Bond Index up 5.5%. Going forward, we see reasons for both optimism and caution.
Read MoreReinhart Week in Review by Madison Investments 1.5.2024
Employment grew during December, a large Chinese bank filed for bankruptcy, and minutes from the last Fed meeting show that rate cuts are unlikely during the first quarter. Read the Reinhart Fixed Income team’s thoughts in their first Week in Review of the year.
Read MoreReinhart Week in Review by Madison Investments 12.15.2023
Following the last Fed meeting of the year and November inflation numbers coming in slightly higher than expected, find out what Reinhart’s Fixed Income team thinks this means for markets. Read their Week in Review.
Read MoreReinhart Week in Review by Madison Investments 12.08.2023
An increase in payroll growth was a surprise when November employment numbers were released and Moody’s put a negative watch on China’s sovereign debt. Read about these stories in Reinhart Fixed Income’s Week in Review.
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Any performance data shown represents past performance. Past performance is no guarantee of future results.
Non-deposit investment products are not federally insured, involve investment risk, may lose value and are not obligations of, or guaranteed by, any financial institution. Investment returns and principal value will fluctuate.
This website is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.
Any performance data shown represents past performance. Past performance is no guarantee of future results.
Non-deposit investment products are not federally insured, involve investment risk, may lose value and are not obligations of, or guaranteed by, any financial institution. Investment returns and principal value will fluctuate.
This website is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.