Equities added to their strong rebound year-to-date with hope for a soft landing as inflation continued to decline alongside a durable labor market. Fixed income markets had mixed results as the Fed maintained course with an additional rate hike while long term rates rose with a decline in expectations for a recession. The second quarter GDP report was a healthy 2.4% led by business investment following last year’s CHIPS act. We remain focused on the health of the consumer with declining excess savings and rising debt.