October 2022
Q3 2022 Quarterly Commentary: President's Perspective
The S&P 500 Index reentered bear market territory after reaching a low of nearly -25% from its high set in January. The widely followed index has fallen -23.9% year-to-date. The prices of U.S. growth stocks have been hit hard as investor demand plummeted, as buyers now focus on value stocks given the rising interest rate environment. Bond investors were still not able to avoid volatility either. The Bloomberg Aggregate Index is now down -14.6% for 2022. This is the worst year combined on record for the S&P 500 and the Bloomberg Aggregate Index, as both posted negative returns after three quarters this year.
By: Bob Meeder, President and Chief Executive Officer
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