Global Economy: Amid ongoing economic and geopolitical uncertainty, financial markets continued to climb the proverbial wall of worry in October. As prominent equity benchmarks achieved all-time highs, fixed income markets reacted to broad policy accommodation with steeper yield curves and a bias to quality. Concerns of global manufacturing weakness spilling over into services, the labor market, consumer spending, and ultimately investor sentiment remain present. That said, a better-than-feared corporate earnings season, progress toward an initial US-China trade agreement, the reduced risk of a no deal Brexit, and a somewhat weaker U.S. dollar have collectively provided “green shoots” of optimism. The…
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