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Monthly Market Update for September 2015

Thursday, October 15, 2015

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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 pace of growth in the US economy cooled in September as the rising US dollar constrained business activity and lowered the cost competitiveness of US exporters.  The US economy added fewer jobs than projected in September, while wage growth was stagnate and the unemployment rate was unchanged.  Job growth was 142,000 versus forecasted growth of 200,000.  This followed a downward revision for August to 136,000 from the…

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Monthly Market Update for August 2015

Wednesday, September 16, 2015

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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: Second quarter growth was stronger than first reported on larger gains in consumer and business spending and a buildup of inventories.  Inventory accumulation is typically a sign that companies have confidence in their outlooks for business activity.  Gross domestic product rose at a 3.7% annualized rate, up from the 2.3% estimate that the Commerce Department reported last month.  The biggest driver of the upward revision was larger gains…

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Recent Market Sell-Off

Thursday, August 27, 2015

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Recent Market Sell-Off Comments The recent sell-off started in China with concerns about economic growth rates and the impact China slowing may have on the rest of the global economy.  The immediate impact was on commodity driven economies and commodity assets but the selling pressure has moved from emerging markets to Europe, Japan and now the U.S. market.  We view the initial decline in assets as a rational response to weaker growth and concerns over China’s economy, but the more recent drops may be excessive especially in non-China markets.  Fears about the Fed raising short term interest rates in the…

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Monthly Market Update for July 2015

Wednesday, August 19, 2015

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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 world’s largest economy expanded at a faster pace in the second quarter, as consumer spending grew more than projected.  Gross Domestic Product (GDP) rose at a 2.3% annualized rate and the first quarter estimate was revised to positive territory at 0.6%.  Business spending remained weak, with investment excluding residential construction dropping 0.6%, the worst decline since the third quarter of 2012. Manufacturing activity also cooled as the…

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Monthly Market Update for June 2015

Tuesday, July 21, 2015

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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 outlook for the US economy improved in June as business activity and job growth pointed to a rebound during the second quarter.  The Institute for Supply Management’s (ISM) manufacturing index rose modestly in June to 53.5, from 52.8; with readings over 50.0 indicating overall expansion.  Production activity was largely unchanged, but the new orders component rose to a six-month high.  Moreover, the ISM’s gauge of non-manufacturing companies…

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