Each month we highlight voices we respect from around the marketplace. Here’s what they’re saying…
- What an incredible time to be alive! We stand just five weeks [as of 11/25/2019] from the end of a decade that saw prosperity spread far and wide. Some don’t see it that way, as pouting pundits and rancorous politics skew our visions. But, if we simply step back from the day to day noise and take in the magnitude of progress around us, there is a great deal to be thankful for. …the US macroeconomy – the big picture – is in solid shape. The unemployment rate is 3.6%, just a tic above September’s 3.5% reading – the lowest since 1969. …Average hourly earnings are up 3.0% from a year ago. …US equities have recently hit all-time highs, pushing IRAs, 401ks, pension funds, and retirement wealth higher. Both workers and investors have good reason to be grateful. Read more… – Brian S Wesbury, Chief Economist, First Trust
- We are hopeful that a modest improvement in economic growth will take hold, and we see prospects for better trade conditions from here. A slow recovery in manufacturing and trade would probably cause interest rates to rise modestly, but not to the point that rising rates would damage equity markets. At the same time, corporate profits could grind slowly higher in 2020. Read more… – Robert C. Doll, Chief Equity Strategist, Nuveen
- We said that geopolitics and trade disputes would be a major driver of asset prices and volatility in 2019. This has played out, …We see a temporary truce [between the U.S and China] in 2020 as likelier than not. Even if a deal isn’t signed this year or early next, market participants may be happy if the current détente is preserved and tariffs scheduled for Dec. 15 are postponed. Read more… – BlackRock Investment Institute
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.
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.