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Following a steep sell-off in the first half of 2022, the Standards & Poor 500 started 2023 with an impressive +15.9% first half return, ranking as the second strongest first half return since 2000, behind only 2019 and ahead of 2021.
Contrary to the market’s forecast, the U.S. economy has remained surprisingly resilient. The economic data and growth rates aren’t necessarily as strong as 2021 and 2022, but they are coming in above forecast.
