We finally made it to the end of 2022! Today marks the last day of trading for a very challenging year for equity and fixed income markets. Surging inflation, unprecedented global monetary policy tightening, China’s battle with COVID-19, rising

Many financial markets are on pace for their worst year in quite some time, or in the case of core bonds, the worst year since inception of the Bloomberg Aggregate Bond Index, which is the main core bond index. With inflationary pressures running muc

The Federal Reserve (Fed) wrapped up its last Federal Open Market Committee (FOMC) meeting of the year last week, where it hiked short-term interest rates for the seventh time in as many meetings, taking the fed funds rate to 4.5% (upper bound). A da

The growth vs. value debate has been pretty one-sided in 2022, with value outperforming growth for a sustained period for the first time in almost 15 years. However, the debate is heating up as investors begin to consider whether the pendulum will sw

If the U.S. economy enters a recession, the causes and potential outcome will be hotly debated. At LPL Research, our starting point is always looking at history. This week’s commentary will remind us of three things we know about historical rec

The LPL Research Strategic and Tactical Asset Allocation Committee is increasing its recommended interest rate exposure in its tactical allocation from underweight to neutral. Now that interest rates have moved substantially higher, we believe opport

Federal Reserve Chairman Jay Powell reiterated his warning that getting inflation under control will require some pain. Powell is likely making these warnings based on the arcane, clunky relationship between inflation and unemployment. The key to get

The difficult 2022 for stocks may not get much easier because as we now wait for better news on the inflation front, we have to contend with a seasonally weak month of September. While we got some welcome news in Friday’s jobs report, more evid

Investors cheered the two better-than-expected inflation reports last week, pushing the S&P 500 to 16% above its June 16 low and only 11% below its all-time high. After this rebound, the key question investors are asking is whether this is a bear

Like most other fixed income markets, the emerging market debt (EMD) indexes are off to one of their worst starts to a year with the Bloomberg EM USD Aggregate index down close to 15% (through Aug 8). While interest rate policy in the U.S. has negati