*Originally published July 28, 2023
Thank you to everyone who attended our semi-annual client webinar earlier this week. As we navigate through the ever-changing financial landscape together, Exencial’s Investment Team shared their insights on market signals from the first half of 2023, as well as their expectations for the road ahead.
Chief Investment Officer Tim Courtney opened the session with an overview of Exencial’s market outlook. He covered what market indicators, including stock and bond market performance and housing trends, are revealing, as well as inflation expectations, consumer sentiment and earnings.
Next, Senior Portfolio Manager Randy Farina shed light on the current economic backdrop for equities, noting that global growth is still slowing while asset prices have rallied. Additionally, he discussed key long-term investing trends the team is closely monitoring, including semiconductors, automation and the onshoring of U.S. manufacturing.
Delving into the fixed income landscape, Senior Portfolio Manager Jeff Hibbeler looked at treasury yields, discussed yield curve inversion and Federal Reserve policy overall. He emphasized that while the Fed is nearing the end of its hiking cycle, they will likely aim to maintain a restrictive period for as long as the economy allows.
Lastly, Senior Portfolio Manager Jon Burkett-St. Laurent offered key takeaways into options-based strategies, specifically pointing to changes in market sentiment.
If you have any questions about recent market activity or your investment strategy, please contact your Exencial advisor. If you could not tune into the live webinar, you can access the recording below.
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