HAPPY NEW YEAR!

There was no shortage of headlines and geopolitical events in 2022, but ultimately the most challenging market backdrop in decades could be boiled down to one thing: persistently higher than anticipated inflation triggered the Fed to raise interest rates at an unprecedented pace.  As a result, investors head into 2023 unusually skittish as inflation and interest rate concerns linger and markets attempt to handicap the odds and severity of any potential recession.  Market volatility will likely stay elevated, particularly heading into the January 12th CPI report, but investors will be eager to put 2022 in the rear-view mirror with the knowledge that since WW2, the S&P 500 has registered over 15% calendar year losses only four times, with the next year seeing positive gains three out of four times for an average full year gain of almost 13%.

 In observance of the New Year's Day holiday our office will be closed Monday, January 2, 2023.

On behalf of the entire Team at Peddock Capital Advisors,

Happy New Year!