Key highlights include:
- Economic Landscape: Slowing but stable GDP growth, with inflation nearing the Federal Reserve’s 2% target, lays a robust foundation for 2024.
- Labor Market Influence: Increased labor supply moderating wage growth and a surge in productivity, crucial for maintaining corporate profit margins.
- Equity Market Outlook: Anticipated 9-10% earnings growth in the S&P 500, driven notably by the Energy and Health Care sectors.
- Fixed-Income Strategy: Emphasis on higher-quality corporate bonds and adjusted durations to navigate the shifting yield landscape.
- 2024 Investment Approach: A commitment to a flexible, data-driven strategy, aligning with clients’ financial goals and risk profiles.
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