May stock markets pulled up at the end of the month to reduce losses. Y-T-D stock averages are down -15.6%. Sectors on the upside, energy, natural resources, utilities, and health care, buffered against the falling stocks. Bonds were also up, averaging over 1% return in May.
The Federal Reserve holds the key to concerns over a possible recession. If hikes in interest end in September, we can avoid a recession. If they are more aggressive, we end inflation and expect a brief, shallow recession. If they continue to raise rates a housing crash is expected and a serious recession. One thing the Feds cannot control is the $1/gal excess profits now being taken by oil refineries on gasoline.
TD Ameritrade reminds those clients who receive their monthly statements by email that they need to have a login to advisorclient.com to continue with this service. This is a remote preparation for the Schwab merger that is still over a year away and does not affect any service you receive from our office.
Balmy days that filled our winter dreams now fill our days. It seems all of nature rejoices with this season, from grass and trees to all four- and two-footed beings. Summer is a-coming in. In Middle English it sounds the same “Sumer is icumen in”. A lilting refrain, a joy filled chant, reflecting the spirit of the season. The simple side of life, without the tragedies from assault weapons in the hands of the criminally insane. No society that values its own innocent lives can tolerate this preventable horror.