Market Update February 2023

Global stocks declined nearly 3% in February, as worries over inflation were exacerbated by data suggesting the economy is not cooling. Global bond prices were also off by about 3% for the month. Still, for the first two months of the year, global stocks are up more than 4%, while global bond prices are basically flat. Inflation readings in January from a year earlier were slightly higher than those for the 12 months through December. Meanwhile, consumer spending in January was up 1.8% from the previous month on a seasonally adjusted basis … the largest increase in two years.

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