After a number of positive months in equity markets, we saw a slight pause in April as investors took a breath following a strong rally across major equity markets globally. These pullbacks are expected after strong rallies and our Investment Committee uses them as an opportunity to add to great companies at a more attractive valuation. That said, we continue to see strong corporate earnings, simmering inflation, healthy spending, and low unemployment providing a strong, albeit more moderated macroeconomic outlook.
Markets Pause after Months-Long Rally
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