June 2023 Newsletter | The Playbook Stays The Same

Summary

• Growth decimated value in the month of May with the Nasdaq up over 3%, the S&P up 1%, and the Dow Jones (more value focused) down on the month fractionally.

• The narrative is shifting towards more rate hikes as stickier inflation plagues the economy.  Expect some headwinds to the CEF and individual preferreds/bond side of your portfolios.

• The risks …