MARKET RECAP

US stocks advanced by 3.09%, international stocks by 3.37%, and bonds were up by 0.84%. International stocks continue to outperform and appear on an uptrend now, while US stocks are close to breaking the declining trend line (see the two charts below).

2022 trends are reversing, helping investors; lower interest rates, a lower dollar, tech stocks, and crypto is rallying, and inflation is falling.

With a Republican-controlled house, and the recent shenanigans in electing a speaker, don’t count on a smooth increase in the debt ceiling. We have already seen congressmen (and women) operate in their own perceived best interests, even when the well-being of the country is at stake. The Treasury should be good until early June.

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