4.5.23 First Quarter Market Observations
An eventful first quarter wrapped up last week. In today’s blog, we make seven market observations from first quarter performance and share our thoughts on what these performance trends could mean for our outlook.
• Growth Dominated Value
Growth soundly beat value on technology’s strength, with an additional boost from consumer discretionary outperformance and financials underperformance (based on the Russell 1000 style indexes). Lower interest rates and lower inflation supported the growth style. LPL Research has reduced its value tilt and now recommends a roughly balanced approach to style.
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