The first half of the year probably didn’t go the way many fixed income investors had hoped, particularly after the historically awful year last year. It wasn’t a horrible start—more in line with recent years—but expectations were high this year, with many calling 2023 the year for fixed income. But the themes that negatively impacted fixed income investors last year have carried over into this year as well—namely inflation and the Federal Reserve (Fed). While many of us thought the Fed would likely be done raising rates at this point, given the still high (but falling) inflation levels, it looks like the Fed isn

Recently, the LPL Research team published the 2023 Midyear Outlook: The Path Toward Stability. A six-month check-in on where the markets have been and where they seem to be headed, the report is a great guide to help steer personal portfolios. If you haven’t read it yet in its entirety, take a minute to tap into some of the key takeaways.

Economy

We expect the Federal Reserve (Fed) to not only end its rate-hiking campaign toward the end of 2023 as inflation abates, but also introduce the possibility of a rate decrease. A cut in rates, and a recession could happen should consumer demand and job growth cool, and unemploy

Index Performance

Equities Cap Off Strong First Half with Solid Second Quarter Gains

The S&P 500 continued its strong 2023, returning 8.7% including dividends in the second quarter to bring its first-half gain to 16.9%, its best since 2019. The Dow Jones Industrial Average posted a quarterly gain of 4%, but the big winner was the Nasdaq Composite, which gained 13.1% during the quarter as growth outpaced value on significant gains in mega-cap technology stocks. The Nasdaq’s more than 32% first-half gain was its best since 1983.

Price pressures have steadily declined, with the consumer infl

The long dormant capital markets have recently begun showing signs of interest from institutional investors and deal makers anxious to bring companies to market. While activity remains muted at best, expectations are focused on 2024, when there is a prevailing consensus that the Federal Reserve (Fed) will be finished with its rate hike campaign, and that economic conditions will be resilient enough to underpin a strong capital markets environment. Given the country's unique characteristics in nurturing innovation and technological leadership, the role of capital markets is crucial in maintaining hegemony. That Apple's market capitaliz