Market Update February 2023Submitted by Corrigan Financial, Inc on March 16th, 2023
Global stocks declined nearly 3% in February, as worries over inflation were exacerbated by data suggesting the economy is not cooling. Global bond prices were also off by about 3% for the month. Still, for the first two months of the year, global stocks are up more than 4%, while global bond prices are basically flat. Inflation readings in January from a year earlier were slightly higher than those for the 12 months through December. Meanwhile, consumer spending in January was up 1.8% from the previous month on a seasonally adjusted basis … the largest increase in two years.