Watch our fourth quarter 2019 strategy video titled, “Holding Pattern.”
Turning the Page
As we look back on 2018, we can summarize the year as one where volatility emerged at the same time equity markets and the economy diverged enormously. In fact, 2018 is estimated to produce the strongest economic growth since the Global Financial Crisis at 3.0 percent.
One More Time
Stocks finished the last week of December relatively flat resulting in a 20+ percent total return for the S&P 500 for 2017. Interest rates were steady with the yield on the 10-year U.S. Treasury ending the year at 2.41 percent, down slightly from a year ago.
Politics and the Markets
Political risk has always been frustrating for investors. We like the rules of the game to be known and the playing field level. Any kind of uncertainty leads to volatility in markets. While many believed that the Republican sweep would deliver pro-growth initiatives, Trump’s troubles have led to concerns regarding those outcomes.