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Brexit – Update on Markets

Friday, June 24, 2016

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The United Kingdom voted to end its 43 years of membership with the European Union. The margin was 51.9% to 48.1%.  U.K. Prime Minister, David Cameron, announced he will resign but will stay until October. Short-term, we anticipate market volatility will be high in the aftermath of this result.  The markets fully expected a “stay the course” vote and that the U.K. would choose to remain in the European Union. So what is driving the market volatility and concern today? The contagion affect – If Britain can leave, what’s preventing France, Italy and other EU countries from making the same…

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Monthly Market Update for May 2016

Friday, June 10, 2016

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Please find the next blog in our monthly series that provides timely market data as well as perspectives on the current state of the economy and the global financial markets. Global Economy: US economic data was mixed as positives from robust consumer spending and the stabilizing US housing markets was offset by weaker than expected employment gains.  As a result, financial markets have reduced expectations that the Federal Reserve (Fed) will raise interest rates at the June meeting.  Consumer spending climbed 1.0% in April, the biggest monthly increase since August 2009, led by a 2.2% rise in durable goods purchases…

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Monthly Market Update for April 2016

Wednesday, May 11, 2016

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Please find the next blog in our monthly series that provides timely market data as well as perspectives on the current state of the economy and the global financial markets. Global Economy: The moderate pace of economic growth during the fourth quarter of last year spilled over into the first quarter of 2016.  The economy expanded at its slowest pace in two years, held back by reduced consumer spending and a slump in corporate spending resulting from weak global demand.  The economy grew at an estimated 0.5% annualized rate after the modest 1.4% fourth quarter advance.  Household purchases, which account…

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Monthly Market Update for March 2016

Thursday, April 14, 2016

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Please find the next blog in our monthly series that provides timely market data as well as perspectives on the current state of the economy and the global financial markets. Global Economy: The US economy continued down the path of slow but steady growth.  A string of economic reports showed improving conditions in the US labor and housing markets, while manufacturing may be finding a bottom.  Employment climbed and wages increased as the US added 215,000 jobs in March, following a revised 245,000 February increase.  The unemployment rate rose to 5.0% from 4.9% and wage growth increased 2.3% in March…

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Monthly Market Update for February 2016

Thursday, March 17, 2016

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Please find the next blog in our monthly series that provides timely market data as well as perspectives on the current state of the economy and the global financial markets. Global Economy: Recent economic data displayed underlying strength in consumer spending.  US households increased spending against a backdrop of solid income growth, cheap gasoline and rising home values.  A Commerce Department report showed consumer purchases climbed in January by 0.5%, the most in eight months, led by a rise in spending on durable goods such as automobiles.  Wages and salaries advanced 0.6% in January following a 0.2% increase in December. …

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