Kieger Healthcare Monthly Commentary
Back to school, repeating the same class
After rebounding strongly in July from the prior month lows, markets took a breather in August, held back by the FED’s repeated warnings of rising interest rates. The fact that Jerome Powell’s Jackson Hole speech hinted at a possible recession, although not unexpected, only added to market nervousness. Healthcare equities shed 6.0% in August and global equities lost 4.2%. The sector’s year-to-date outperformance now stands at 4.8%.