It's a Bear
by Danno June has picked up right were April and May left off... terrible! We are officially in a "bear market" as of the close of business on Monday (defined as being down 20%+ in the S&P 500). Second one since the start of 2020. And this one is tricky because Bonds have been getting beat up too, as the Fed raises rates in an effort temper the amount of Demand and inflation in the economy. The markets be like... Folks still in their peak earning years who understand that stuff is "on sale" be like... Recent retirees who just got done saving money every 2 weeks for 40 years be like... My job is to be like... It's not a reason to panic, but it's certainly enough to get your attention. Back in 2020 the S&P went down 35% in 6 weeks, and rebounded in a V-shape, almost as quickly. We were worried about deflation & a depression, and the Fed stepped in to provide support. This one is not like that. This one has been going down for 5 1/2 month