Each month we highlight voices we respect from around the marketplace. Here’s what they’re saying…
- In the first half of 2019 there were signs of a slowdown in economic growth…We expect this pattern to continue for the rest of this year and into 2020 with overall GDP growth sliding back to the roughly 2% pace that it averaged between 2010 and 2016. However, it’s important to recognize, barring a major shock, the economy should be able to avoid recession and sustain this pace into 2020. Read More… – David Kelly, J.P. Morgan
- The record-long U.S. economic expansion looks unlikely to run out of steam any time soon. We see a limited near-term risk of the traditional catalysts that bring expansions to an end — financial vulnerabilities leading to dislocations or deleveraging, or economic overheating that prompts central banks to overtighten policy. The U.S. economy has only recently hit full capacity, entering the “late” stage of the cycle that can often run for an extended period. Read more… – BlackRock Investment Institute
- Equity markets around the world moved lower last week, with the S&P 500 Index dropping 3.1% for its worst weekly performance of the year. As widely expected, the Federal Reserve cut interest rates for the first time since 2008, but expectations for future rate cuts fell. Additionally, President Trump’s announcement of new tariffs on Chinese goods hurt investor sentiment. Treasury markets rallied across the yield curve last week, and defensive utilities and REITs were the only equity sectors to make gains.1 Read More… – Robert C. Doll, CFA – Nuveen
As always, we continue to believe that one’s circumstances and risk profile should determine the appropriate mix of investments, and not media headlines. Please contact us if you ever have any questions or concerns about your accounts or any news you hear.
Note: Past performance may not be indicative of future results. Therefore, no current or prospective client should assume that the future performance of any specific investment, asset class, or investment strategy (including the investments and/or investment strategies recommended by the adviser), will be profitable or equal to past performance levels. Information in this commentary is gleaned from third party sources, and while believed to be reliable, is not independently verified.