Weekly Market Review
In this recap, we summarize market performance and market moving news from the prior week.
While 2022 shaped up to be better for value investment strategies1 than recent years, the strategy’s outperformance came during a period of rising interest rates, just as value’s recent underperformance occurred during a period of falling interest rates. The strong correlation between the value factor and interest rates over the past 10 years versus a relatively benign historical relationship has puzzled many market commentators and participants.
1Those going long cheaper stocks and short expensive stocks.
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