Amy Greene LoCascio gives advice on preparing ahead of the 2023 tax season.
March 22, 2023
Commentary – First Quarter 2023
May 31, 2023INSIGHTS
Commentary - Fourth Quarter 2022
As we near the end of the first quarter, we wanted to take a look back at where we ended 2022 and refresh our outlook for the remainder of 2023.
Quarterly Recap
The fourth quarter capped off a very tumultuous period as all major indices ended firmly in the red for 2022. For stocks, the S&P 500 Index was down -18.1% making it the worst performing year since 2008 and putting it in the top five worst years in history. For bonds, the flagship Bloomberg US Aggregate Bond Index was down -13.0% marking its worst year on record since its inception in 1971. This massive underperformance was driven by severe macroeconomic headwinds relating to inflation, geo-political risk (Russia/Ukraine) and the subsequent policy response of the Federal Reserve (Fed), i.e., record interest rate increases.
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