Will State Street Corporation (STT) Benefit from Rising Interest Rates?

Oakmark Funds, advised by Harris Associates, released its “Oakmark Equity and Income Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. The fund increased 3.3% in the first quarter compared to a 4.3% return for the Lipper Balanced Fund Index. The fund generated a 9.4% compounded annual rate of return since its inception in 1995 compared to the Index’s return of 6.7%. The equities returned 4.4% in the quarter underperforming the S&P 500 Index which...