– Federal Reserve meeting week was a tough one for global financial assets – all major asset classes finished the week in the red.
– All factors, styles and sectors closed the week lower. Small cap value returns for 2023 have turned negative.
– Emerging and developed market equities declined. Thirteen of 44 countries are down year-to-date after last week’s stock market weakness.
– The dollar was up, as were bond yields. The yield on the 10 Yr. Treasury Inflation Protected Securities climbed above 2% for the first time since 2009.
