Bots, Barrels, Banks, And Biopharma: Inside 2023’s Dividend Doldrums
Recent weakness among Morningstar dividend indexes is less about interest rates than a narrow equity market; long-term upside remains. Equities have logged solid gains so far this year. After the aggressive monetary policy response to stubbornly high inflation sent markets diving in 2022, stocks have clawed their way back in 2023. The Morningstar Global Markets Index,1 a broad gauge of developed and emerging-markets equities, is up roughly 16% for the year through July 14, 2023, while the Morningstar US Market Index, has advanced more than 18%. What then explains the poor showing for dividend-...