Quarterly Market Review: Third Quarter 2023

While the major averages in the U.S. and many International markets were down in the 3^rd quarter, the last 12 month returns in these markets have been welcomed and impressive.

Growth stocks in the US led the way in the first half of the year, but after such a robust run and amidst the headwinds of a bond market which saw the 10-year treasury yield rise from 3.84% in early July to 4.57% at the end of September, it was difficult to imagine these stocks continuing to move higher without a pause or pullback. 

As it turns out, the mini correction we experienced in growth stocks also affected value stocks albeit to a lesser degree.  While we would love nothing more than to be able to accurately predict which sectors or sub asset classes are going to perform best each quarter or year, we would be remiss in attempting to outguessing the market and making large bets with your hard-earned investment dollars.  That said, history does suggest that investors who don’t give up on “value stocks” will be rewarded by sticking to their guns.

Please enjoy this quarterly update, and feel free to reach out to a HoganTaylor Wealth advisor if we can help in any way.