Economic and Market Overview
A Sobering Start
Investors were treated to a double dose of negativity in the first quarter as both stocks and bonds declined over the three-month period.
Equity Commentary
Not All Quarters Can Be Positive
The streak is over. After seven consecutive quarters of positive returns, the first quarter of 2022 gave us a return of -5.0% for the Standard & Poor’s 500 Index.
Fixed Income Commentary
Bond Math 101: Higher Yields = Lower Prices
Not since 1980 has the quarterly return for investment grade bonds been lower than the -6.1% recorded this past quarter.