DAC Market Perspectives (Midyear 2023)

Kicking The Can Down The Road…

The rally in risk assets continued in the second quarter as the U.S. equity markets successfully fought off concerns about the U.S. banking system and worries that the Federal government would exceed its debt ceiling in June. However, there are some signs of weakness on the horizon keeping the dreaded R-word ‘Recession’ front and center as the Fed continues its fight to rein in inflation…

DAC Market Perspectives: June 2023

Hop, Skip, Jump, or Pirouette… What Will the Fed Do Next?

After months of contentious negotiations, the global financial markets can finally breathe a collective sigh of relief that Congress and the Biden administration reached an agreement to raise the U.S. government’s $31.4 trillion debt ceiling and avoid a default, which even the most entrenched politicians determined would be bad for both the economy and their political futures…

Quarterly Commentary: September 2022


After a promising start that began with a relief rally, global markets continued their year-to-date declines during
the 3rd quarter as record inflation, geopolitical tensions, lingering effects from the pandemic, and, most
importantly, fears that an aggressive Federal Reserve would push the U.S. economy into recession weighed heavily
on the broader markets.

Quarterly Commentary: June 2022

The S&P 500 realized its worst first half performance since 1970. The 2nd quarter of 2022 proved to be especially unkind to equity investors as not even one of the eleven S&P 500 sectors were able to post positive results. Investors faced record high inflation, increased interest rates from the Federal Reserve, fears of a recession and geopolitical uncertainty caused by Russia’s invasion of Ukraine.