Equity Commentary

Quarter in Review

Going into the final day of trading, the front page of the Wall Street Journal proclaimed, “Stocks on Pace for Best Two Years in a Quarter-Century.” This should have specified “United States Stocks,” which sustained their leadership through the fourth quarter to close out a great year.

Fixed Income Commentary

Bonds Slip in the Fourth Quarter, but Post Second Consecutive Annual Gain

Core bonds ended the fourth quarter down 3.10% due to rising interest rates.

Economic and Market Overview

Consistent Growth Continues

With an anticipated gross domestic product (GDP) growth rate of 2.4% for the fourth quarter of 2024 the annual rate will register a very respectable 2.7% for the year.