Well, the tide has certainly shifted in the financial markets. Recent reports of cooling inflation and slowing economy has seen the Fed pivot their forecast and hold rates steady while looking for potential rate cuts later this year. This news was met with euphoria by the markets. All the major indices recorded double digit gains and moved to or near record highs in the fourth quarter as we had anticipated. Bonds rallied driving interest rates lower with 10 year maturities dropping more than one percent.
There were certainly challenging times during 2023 making it tougher to stay invested yet once again patience and staying the course has certainly been paying off.
Owning the best companies in the best industries and focusing on long-term growth continues to be our investment theme.
As we approach tax season, our team stands ready to guide you forward. Let us know if you have any issues regarding your wealth or estate plans, and we'll get an appointment scheduled for you. Best wishes for healthy and prosperous 2024.
All our best.