With our year-end 2022 SIA Perspectives, we highlighted - with a sigh of relief - an outstanding fourth quarter for most financial markets following three straight quarters of negative performance. Our outlook for 2023 stated that the highest global interest rates in decades were expected to be positive for investors with short-term investments and allocations to bonds
However, we also noted that these higher interest rates could be headwinds for global economic growth during most of this year.
What we did NOT expect was the state of frenzied and chaotic activity – aka “madness” – that took place throughout the first three months of 2023, nor the outsized returns posted by financial markets for the first quarter.
For in-depth analysis, click here to read SIA Perspectives 2Q23.