Brad McMillan, Commonwealth’s CIO, recaps April’s market and economic news. Rising interest rates pressured stock and bond prices in April. U.S. markets were down in the low-single digits, marking the first monthly decline for U.S. stocks this year. The combination of faster hiring and still-hot inflation complicated the Fed’s efforts to cut interest rates. But as the economy grows while inflation remains high, will strong fundamentals help support markets in May? Follow Brad at blog.commonwealth.com/independent-market-observer.
