Amid signs that inflation is starting to cool off, investors now seem to think the Fed's sharpest rate hikes are behind us, helping to lift stocks and bonds in 2023.
Note: Total return based on 60% allocation to S&P 500 and a 40% allocation to the Bloomberg U.S. Aggregate Bond bond index; Data: FactSet; Chart: Axios Visuals
A basic building block of the money management industry — the 60-40 portfolio — is doing well again after an awful 2022.It's a benchmark for the typical diversified portfolio that retirees use for their nest eggs.Last year was the worst for this plain vanilla portfolio since 2008. The bond market and the stock market both got hammered in 2022 as the Federal Reserve delivered the sharpest interest rate hikes since the early 1980s.Amid signs that inflation is starting to cool off, investors now seem to think the Fed's sharpest rate hikes are behind us, helping to lift stocks and bonds in 2023.
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