AI
Friday, June 23, 2023 6:16:24 PM
The SPX was down a bit over 2% this week. The majority of sectors were down well over 2% with Real Estate down almost 4%. Recession fears combined with everyone being bullish, (only a few buyers left on the sideline). It may just be a pause but I'll continue to nibble on my preferreds with the majority still in fixed income. The 2-year bond should be over 5% by the end of the summer. That's certainly worth considering for a portion of funds if the Fed is going to boil the frog, as someone said this week.
The stock market is a device for transferring money from the impatient to the patient. - WB
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