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SPECIAL Market Update March 20, 2023

Submitted by Corrigan Financial, Inc on March 23rd, 2023

Just last week, we had the second and third biggest bank failures in U.S. history – Silicon Valley Bank (SVB) and Signature Bank. Last night, we learned that UBS agreed to take over Credit Suisse … the first megamerger of systemically important banks since 2008. Coincidentally, fifteen years-ago to the month, the Federal Reserve rescued Bear Stearns. That was the first shoe to drop in what would eventually become the Great Recession of 2008/2009.

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Market Update February 2023

Submitted 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.

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Market Update January 2023

Submitted by Corrigan Financial, Inc on February 28th, 2023

Financial markets got off to a strong start to the new year, with January returns for global stocks and bonds reaching 7.17% and 3.28%, respectively. Declining interest rates pushed up bond values and also helped the tech-heavy Nasdaq Composite Index to a gain of nearly 11% for the month. Overall, investors remain optimistic that the Fed will soon pause rate hikes, and eventually even reverse course.

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Fourth Quarter 2022 Insights and Observations

Submitted by Corrigan Financial, Inc on December 15th, 2022

Married couples have four times as much wealth as unmarried couples who live together.  Combining assets may be one of the reasons.   Research from Cornell University and the University of Colorado at Boulder suggests that couples who combine checking, investing, and credit card accounts are happier over the long term.  Pooling resources leads to a greater feeling of accountability and also helps to achieve certain milestones, such as buying a home and saving for retirement. 

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Market Update December 2022

Submitted by Corrigan Financial, Inc on December 1st, 2022

Global stock markets declined by nearly 4% in December, closing out a down year on a down note.  During the fourth quarter, stocks actually rallied, with U.S. and foreign equities advancing by 7% and 14%, respectively.  When it was all said and done, however, equity investors had their worst year since the 2008 financial crisis … as their holdings lost about one-fifth of their value.   

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Market Update November 2022

Submitted by Corrigan Financial, Inc on November 1st, 2022

Global stock markets advanced 6% in October, with domestic and foreign equites returning approximately 8% and 3%, respectively.  The Dow Jones Industrial Average surged 14% for its best month in over 45 years. Even after October’s gains, global stocks remain down by just over 21% yearto-date. 

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Market Update October 2022

Submitted by Corrigan Financial, Inc on October 1st, 2022

Global stock markets advanced 6% in October, with domestic and foreign equites returning approximately 8% and 3%, respectively. The Dow Jones Industrial Average surged 14% for its best month in over 45 years. Even after October’s gains, global stocks remain down by just over 21% year-to-date.

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Third Quarter 2022 Insights and Observations

Submitted by Corrigan Financial, Inc on September 15th, 2022

Until the second half of the 20th century, America’s population was spread out.  Many lived in areas where land was cheap.  But as more people moved to the cities, and stricter zoning codes were passed, land prices and housing costs have soared.

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Market Update September 2022

Submitted by Corrigan Financial, Inc on September 1st, 2022

Global stocks declined 9.57% in September, finishing down 6.82% for the third quarter, and off more than 25% year-to-date. The three major U.S. indexes, the S&P 500, Dow Industrials, and Nasdaq Composite, all completed their worst first nine months of a calendar year since 2002.

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Market Update August 2022

Submitted by Corrigan Financial, Inc on August 4th, 2022

August was rough for virtually all investors, as global stocks and global bonds were each down nearly 4% for the month. While equity investors are still up 3% over the past two months, stock market benchmarks remain down by nearly 18% year-to-date.

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