Euclid Investment Advisory Blog

Review & Analysis at Close of 2nd Quarter 2022

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Market Commentary

US stocks had their worst first half of a year since 1970.

Inflation concerns, Fed rate hikes, supply chain blockages, and a slowdown of economic growth were external systematic factors that pressured the market.

In addition, internal systemic issues such as the sharp downtrends of previously high-flying SPACS and Cryptocurrencies added to the risk-off environment.

For the first half, the S&P 500 had a loss of 20%, while the S&P 400 Mid-cap and S&P 600 Small Cap indices performed marginally better.

International stocks also had losses YTD with Europe down 21% and Emerging Markets down 15%.

Dividend, value and low volatility strategies performed relatively better, indicating the market's emphasis on defense. Growth and high Beta were the year's worst performers so far.

Most sectors posted losses, with Energy having a YTD gain of 32%.

US fixed income YTD performance was negative for all maturities.

The only commodity sectors to have gains were Energy and Agricultural.

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