Economic and Market Overview
Mid-year Outlook
With second quarter GDP exhibiting a growth rate of 3% the resilience demonstrated by the United States economy was truly impressive.
In this issue:
Fixed Income Commentary
The Federal Reserve Cuts Rate for the First Time Since 2020
Core bonds were up 5.2% in the third quarter as the market began to price in significant cuts to the Fed Funds rate.
Equity Commentary
Continued High Equity Markets
Equities continued to reach record level highs driven by investor optimism. During the third quarter of 2024, the Russell 3000 Index gained 6.2%.