Market Update – June 2, 2023

One thing we have seen this week, is that uncertainty is certain in this economy, with the US avoiding a default on their debt at the last minute. At the same time, manufacturing indexes show that we may already be in a near recessionary environment, while over +300k monthly job gains in May tell a very different story. Every day of economic data seems to provide a different narrative of how the US economy is doing.

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May Inflation Update

We hope this stickier month of inflation data from April is more of an outlier and less of a trend, and we are hopeful inflation comes down as the lagging effects of higher interest rates ripple throughout the economy. If inflation does not calm down as quickly as we, the Fed, and many other market participants hope, we will monitor data closely and manage portfolios appropriately.

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