MINT HILL, NC – This week I wanted to do a recap of the first quarter of 2023.  I think we can all agree that markets ended a volatile but positive first quarter.  Let’s look at some interesting facts from the quarter.

US sector performance was uneven in the first quarter: Technology and its related sector enjoyed strong gains.  The expectation that the Fed would need to cut interest rates to curtail the banking crisis sent the technology sector up for the quarter, while economically sensitive sectors such as energy and financials suffered losses amid the banking turmoil and recession fears. Financials, the worst-performing sector, fell for the quarter.

Bonds recovered in the first quarter after suffering their worst year in history in 2022:  Bond yields, which move in inverse to bond prices, fell as markets anticipated the Fed to pause and or cut rates following the banking debacle.

As I’ve said many times before, at Fulcrum we believe in education and our goal is to keep you up to date as much as we can on what’s going on in the market.  With that being said, remember we focus on the portfolio as a whole, not just individual positions or accounts.

Let us help you find your clarity of purpose!

Information contained in this article was released by AssetMark Trust Company for use by your local Cambridge Investment Research Financial Advisor. 

To discuss further, please contact me at (704) 817-4480 Option 2, or by email at mmiller@fulcrumwealth.com.