Economic data displayed digitally over a cityscape image
Economic data displayed digitally over a cityscape image

f1RST word on the market, july 2023

As the debate between an “early cycle” versus “late cycle” setup continues, market performance year-to-date suggests it’s pretty clear which way investors are optimistically leaning. Read on to get our thoughts on why we think it might be premature to draw that conclusion and instead stay focused on some tried and true historical relationships.

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