Your Purus Team has been hard at work to continue meeting your needs with the goal of surpassing your expectations. We are constantly monitoring market expectations and remain nimble to adjust, as necessary.
We are about 50% through Q1 earnings, and year-over-year earnings growth is well above estimates. We have continued to see some stress in the banking sector due to mismatched liabilities and assets, along with some jittery depositors. It seems for a long time, few people thought about the Fed. Now all eyes (and ears) are hanging on every word it utters, and this past Wednesday was no different. The Fed raised rates another quarter of a percent, and as expected, put more pressure on regional banks. This of course pushed things in the overall market to a more bearish tone. Our investment team expects at least one more rate hike this year is possible and then a pause. Some experts see cuts in rates by year end. Our economic data, at this point, does not seem to warrant those cuts. This year has produced some positive movement from the lows of 2022, but the Purus Investment Committee continues to approach the near future with caution. We feel there are still too many variables to yet get a clear picture of what to expect in the short run.
We would like to take this opportunity to say Happy Mother’s Day to all of the moms out there!
"The Fed raised short-term interest rates by another quarter percentage point today to a range of 5.00 - 5.25%, just like most analyst and investors expected."
“History is full of economic and societal collapses. The Incan and Roman societies disappeared, the Ottoman Empire fell apart, the United Kingdom saw the pound lose its reserve currency status. So, anyone who says the US, and the dollar, couldn’t face the same fate doesn’t pay attention to history.”
"Taking these five actions can help every woman be better prepared for the unexpected—and protect her family from financial disruptions."
The Purus team grabbed our gloves and buckets and teamed up with the Banning Ranch Conservancy to help clean up the trash where the river meets the ocean. Together, we worked to save birds, the water, and the land.
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May 23rd to May 29th, 2023
“Field of Honor is about bringing people together to show their patriotism and pride in what makes America great and to experience something positive and meaningful. It is about uniting communities and educating our youth, raising public awareness, and showing gratitude to our military, veterans, and first responders, including K-9 and equine Heroes. The sacrifices endured by these selfless Heroes to safeguard our way of life and communities are immeasurable."
Purus is honored to be participating in sponsoring an individual flag to honor our military members, veterans and first responders. Proceeds from the Field of Honor® go to benefit Homefront America's for military families.