Dear friends of Arcus Capital Partners,
We hope this letter finds you well and that you are having a great summer. During the quarter, global equities continued to march higher and were once again led by domestic indexes. The Federal Reserve (Fed) maintained its restrictive policy and raised short-term rates once at its May meeting. However, inflation continued to moderate, which fueled the equity rally that started at the beginning of the year. Interest rates found their footing early in the quarter and attempted to make new highs for the year. Finally, commodities remained weak as the US dollar stabilized. We maintain a positive view of equities and credit over the next twelve months; however, near-term headwinds could create periods of higher volatility and lower prices in the interim. We believe investors should maintain a long-term view and continue adding to positions on material weakness.