2024 saw strong returns overall, but with greater variability in performance across asset classes compared to 2023. Headlines were dominated by tragic conflicts, the U.S. election and soft vs. hard landing debates, but fundamentals remained the key driver of returns.
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Investors have had reason to cheer in 2024, as economic growth held up better than expected and equity markets hit 57 new all-time highs. But, there are still a few lumps of coal under the tree. Progress on inflation has stalled and consumers continue to feel the sting of higher prices this holiday season.… Read More
This year’s heightened bond market volatility has kept investors on their toes. With the Fed starting its easing cycle in September – later than initially anticipated – concerns are now emerging about whether the cycle will end sooner than expected. Last week’s inflation report was in sharp focus as investors sought answers to three key questions: has inflation progress stalled, could proposed tariffs derail it and what might the Fed do next?… Read More
The U.S. labor market, while having cooled from its red-hot state, has settled into a relatively healthy position. Following a month of hiring disruptions due to hurricanes and strikes, businesses added 227K jobs in November. However, the uneven nature of recent job growth has led many to question the true health of the labor market.… Read More
Understanding the labor market landscape is like piecing together a complex puzzle. On November 20th, a new piece was added with the release of the 2Q Quarterly Census of Employment and Wages (QCEW), which is based on administrative records from unemployment insurance programs and covers approximately 97% of U.S.… Read More
This Thanksgiving, as families gather around the table, the festivities provide a welcome reprieve from the political tensions of recent months. With Americans expected to spend nearly a trillion dollars spreading holiday cheer, this spending showcases their resilience in a shifting economic landscape.… Read More
In September, the Fed kicked off its cutting cycle because “the balance of risks” had shifted. But subsequent economic data and the election results could be shifting it back. This week’s chart shows both growth and the labor market are tracking stronger than the Fed expected, posing upside risk to inflation.… Read More
As the dust settles post-election, investors are keenly assessing what the next four years might bring. Despite the policy uncertainties that accompany a unified Republican government, the economic outlook remains largely stable. Additionally, market fundamentals look strong and matter more for returns, especially over the long term.… Read More
2024 has been a banner year for gold. Now worth $2,736 per troy ounce, the precious metal has climbed over 30%, on pace for its best year since 1979, and set 41 all-time highs. Since gold doesn’t produce income, its price is typically inversely correlated to real interest rates.… Read More
In a year with growth, inflation, interest rate, fiscal and geopolitical uncertainty, there has been one thing to count on: the American consumer. Despite rising delinquencies and data that until recently showed a historically low saving rate, consumer spending has defied expectations of a slowdown.… Read More
2024 saw strong returns overall, but with greater variability in performance across asset classes compared to 2023. Headlines were dominated by tragic conflicts, the U.S. election and soft vs. hard landing debates, but fundamentals remained the key driver of returns.
Click Here
Download Full-Size PDF:
weekly_market_recap 12-30-2024Download