Global Economic Review: August 2019

Americas   US Economic Data showed a slightly slowing Q2 GDP growth at +2.0% annualized, and the Atlanta branch of the Federal Reserve forecasted only a +1.5% annualized rate for Q3 on lower trade and business investment. Payrolls grew at +130,000 for August, lower than expected despite a 25,000 boost…

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August 2019 Global Commodity Snapshot

Trade War Only A Symptom of Underlying Global Risks   While commodities is the overarching theme of this commentary, we recognize that the really large money flows occur in the stock and bond markets, particularly the latter. With Germany issuing 30-year debt at negative yields (yes, investors effectively lock in…

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August 2019 Sector & Index Performance

During the month of August, the top 3 performing sectors were: Metals (4.23%), Interest Rates (2.86%) and the Barclays CTA Index (1.43%). Precious metals such as gold and silver lead the way as investors look for an alternative investment. The bottom 3 sectors were: Livestock (-9.39%), Energy (-5.80%) and S&P…

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Global Economic Review: July 2019

Americas   In Case You Forgot, The Federal Reserve lowered interest rates at its July 30th-31st meeting, but only -0.25%, not the -0.50% the market hoped for. What got equities more concerned was the messaging during the Q&A where Chair Powell said the rate cut was only a “mid-cycle adjustment”…

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