4Q 2022 Commentary: Money Like Water

January 12, 20234Q 2022 Commentary: Money Like Water

Summary
  • As inflation showed signs of slowing in the fourth quarter, both stocks and bonds recovered some of their losses from previous quarters, and most assets ended the quarter with positive returns.
  • Despite a relatively good final quarter, 2022 was one of the worst years in history for markets, including stocks and bonds shedding more than $30 trillion globally and the worst 60/40 portfolio returns since the Global Financial Crisis in 2008.
  • Although inflation has started to subside, economic activity has also, and whichever one slows faster will likely determine the severity of a recession, if one occurs.
  • The interplay between policymakers and their decisions on fiscal and monetary liquidity has the potential to heavily influence inflation, economic activity, and market performance in 2023.
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The material shown is for informational purposes only. Any opinions expressed are current only as of the time made and are subject to change without notice. This report may include estimates, projections or other forward-looking statements; however, forward-looking statements are subject to numerous assumptions, risks, and uncertainties, and actual results may differ materially from those anticipated in forward-looking statements. As a practical matter, no entity is able to accurately and consistently predict future market activities. Additionally, please be aware that past performance is not a guide to the future performance of any investment, and that the performance results and historical information provided displayed herein may have been adversely or favorably impacted by events and economic conditions that will not prevail in the future.  Therefore, it should not be inferred that these results are indicative of the future performance of any strategy, index, fund, manager or group of managers. The graphs and tables making up this report have been based on unaudited, third-party data and performance information provided to us by one or more commercial databases. While we believe this information to be reliable, SpringTide Partners bears no responsibility whatsoever for any errors or omissions.

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