Enb fallout 46/16/2023 ![]() Flush consumers bid up the price of the limited goods they could get their hands on. As the economy recovered, demand outstripped supply. Additionally, for reasons that are still unclear, many workers permanently left the labor force. ![]() The federal government injected trillions of dollars of fiscal stimulus to soften the blow of lockdowns and reduced economic activity. Companies ratcheted back production as demand cratered. The seeds of these broader market dynamics were planted two years ago in the early months of COVID-19. ![]() and our significant overweight to aerospace and defense stocks.our underweight to high-multiple stocks (whose multiples compressed as interest rates rose).The ClearBridge Dividend Strategy meaningfully outperformed the market during the quarter, driven by: The S&P 500 Index finished down 4.6% - quite good considering it was down 12% year to date through early March. The first quarter of 2022 was a volatile one for the capital markets. PM Images/DigitalVision via Getty Images Market Overview
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