2023 Mid-Year Investment Update

    • spieler-kurt-headshot.jpg
    • Kurt Spieler

      Chief Investment Officer
      Jul 13 2023

2023 Mid-Year Investment Update

Author: Kurt Spieler, Chief Investment Officer

Across the U.S. economy, we expect to see slower growth in demand, jobs, profits and inflation. Recession is not certain, however, as some areas of the economy may remain strong while other sectors contract. This is sometimes referred to as a 'rolling recession', which may describe economic activity for the next few quarters. In our Mid-Year Update, the Investment Management team shares insight on what may happen next: economic growth or recession.

The update provides:

  • An in-depth review of inflation and the post-pandemic macro-environment. Inflation remains a concern, and the ongoing impact of COVID-related policies makes it challenging to forecast economic growth.
  • An assessment of the stock market and investment strategy. The potential for a mild recession is leading us to maintain a slightly defensive portfolio.

Read the full 2023 Mid-Year Investment Update for a detailed analysis and to learn how our team is adjusting its outlook and strategy in response.

Investment products are: Not a Deposit • Not FDIC Insured • Not Insured by any Federal Government Agency • Not Guaranteed by the Bank • May Go Down in Value

"FNBO Wealth" is a brand name that refers to First National Bank of Omaha ("FNBO") and certain of its affiliates and subsidiaries that provide or make available trust, investment, securities brokerage, investment advisory, banking, and related services.

Trust and related services are provided by FNBO, a national bank with trust powers.

Certain trust and related services are also provided by FNN Trust Company, a South Dakota state-chartered trust company and wholly-owned subsidiary of FNBO. FNN Trust Company does not offer depository, lending, or other banking products, and is not FDIC insured.

"First Investments & Planning" refers to a division of FNBO that makes available third-party brokerage and investment advisory products and related services on bank premises. Brokerage services are offered through Raymond James Financial Services, Inc. ("RJFS"), a registered broker-dealer. Member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. ("RJFSA"), a registered investment adviser. Insurance products are offered through RJFS, Raymond James Insurance Group, Inc. ("RJIG"), and their affiliates. Registered representatives of RJFS and investment adviser representatives of RJFSA offer products and services using the name First Investments & Planning and may also be employees of FNBO. These products and services are being offered through RJFS, RJFSA, RJIG, or their affiliates, which are separate entities from, and not affiliated with, FNBO or any of its subsidiaries or affiliates. FNBO is not registered as a broker-dealer or investment adviser.

Certain investment advisory services are provided by First National Advisers, LLC ("FNA"), with certain services provided through FNA doing business as Private Wealth Reserve, an SEC-registered investment adviser and wholly-owned subsidiary of FNBO. FNBO is not a registered investment adviser.

Deposit products, such as checking, savings, and money market accounts, and lending, credit, and related products are offered by FNBO. Member FDIC. Equal Housing Lender.