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Personal Investment Management Inc. is a SEC-registered, locally owned, independent fiduciary investment advisor firm.  We have provided professional investment management, retirement planning and general financial counsel to our clients for over 37 years.  We are dedicated to client confidentiality and advocacy, simplifying complexity, and guiding and supporting our clients to and through a successful retirement. 

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</xml><![endif]--><strong>The Cycle Continues</strong><br/>February 21, 2024<br/>

The Cycle Continues
February 21, 2024

Sometimes capital markets seem like they’re running on a loop, with the same themes playing out over and over.  We’re in this type of cycle now.

  1. Inflation readings come in higher than expected, which causes interest rates to increase.
  2. Higher interest rates cause the equity market to sell off. Investors worry interest rates are too high and will eventually cause a recession.
  3. High interest rates and recession concerns attract more investor dollars to bonds. The extra demand for safe bonds lowers rates.
  4. Falling interest rates make equities look attractive again, which brings money into the equity market and fuels a rebound.
  5. Low interest rates and ensuing easier financial conditions increase the risk of higher inflation and the cycle restarts.

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