Posts by Trey Graham

October 16, 2017 – Weekly Market Commentary

Consumers are the most confident they have been since 2004, a December rate hike is looking increasingly likely, the IMF raised its expectations for global growth through 2018, President Trump signed an executive order to stop Obamacare subsidies, the Spanish government gave Catalan an  independence ultimatum, and thought leaders focused on what factors can keep the current expansion going late in the market cycle.

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October 9, 2017 – Weekly Market Commentary

The headline jobs numbers disappointed but underlying data was positive, the VIX hit a historic low, the House passed a budget resolution, and thought leaders focused on why tax reform is becoming increasingly important for the markets, investing opportunities driven by diverging monetary policies, and why wage growth and inflation may finally be hitting their stride.

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Q3 2017 Quarterly Review

The global economy continued to expand throughout Q3. The Organization for Economic Co-Operation and Development (OECD) projected that all 45 countries that it tracks will expand in 2017. Through Q3 the MSCI All Country World Index posted positive returns for 11-straight months. The backdrop of stable macroeconomic data and limited volatility supported growth in equity markets. Foreign equities continued to outperform domestic equities. The Euro-area posted the highest returns, followed by emerging markets.

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October 2, 2017 – Weekly Market Commentary

Janet Yellen said that the Fed plans to raise rates despite low inflation, U.S. capital goods orders beat expectations, Republicans released a new tax reform framework, Q2 GDP was revised upward due to stronger business spending, and thought leaders focused on the difficulties of implementing new tax rules, the market implications of the German elections, and why the market rally will continue into Q4.

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September 25, 2017 – Weekly Market Commentary

The Fed announced plans to unwind its balance sheet, peripheral eurozone economies are catching up to core leaders, global growth forecasts are anticipating the largest increases since 2011, the Bank of Japan left its monetary policy plans unchanged and thought leaders focused on the downtrend in stock buybacks, why consumer spending levels have been so low, and what extremely optimistic investor sentiment levels mean for the markets.

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September 18, 2017 – Weekly Market Commentary

Markets closed at record highs, the UK took a major Brexit step, US tax-reform could be backdated to January 2017, the Bank of England hinted at raising rates, US consumer inflation was higher than expected, and thought leaders focused on why central banks are not the most important factor affecting financial markets.

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September 12, 2017 – Weekly Market Commentary

Trump extended the debt ceiling deadline following the recent storms, Fed Vice-Chairman Fischer resigned, the dollar hit a 2-1/2 year low, the ECB talked about tapering its bond purchase program and thought leaders focused on what the broad-based global expansion means for the US stock market, and why international earnings may have more upside in the current market environment.

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September 5, 2017 – Weekly Market Commentary

North Korea tested its most powerful bomb yet, US GDP was revised higher, Harvey disrupted the energy markets, the EU said the UK is dragging its feet during Brexit negotiations, and thought leaders focused on what “quantitative tightening” means for the markets, and if the recent bout of volatility is a sign of things to come this fall…

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August 28, 2017 – Weekly Market Commentary

North Korea launched a missile over Japan, Congress looks towards the debt ceiling, the ECB President sent the euro soaring, the world is growing in unison for the first time in 10-years, U.S. home sales disappointed, and thought leaders focused on why the debt ceiling matters and whether or not there is a bubble in the bond market.

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August 21, 2017 – Weekly Market Commentary

Japan continued its longest economic expansion in a decade, eurozone peripheral countries are joining the recent expansion, Chinese data disappointed, the Fed is worried about low inflation, and thought leaders focused on why the markets are not topping out, and why we need to rethink how technology and consumer preferences are affecting headline inflation.

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August 14, 2017 – Weekly Market Commentary

Trump’s comments on North Korea rattled the markets, US inflation data came in lower than expected, VIX options trading set a daily volume record, and thought leaders focused on overvaluations in the bond markets, what insights can be gathered from trends in fund flows, and why the markets seem to be ignoring political dysfunction.

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August 7, 2017 – Weekly Market Commentary

The dollar fell for the 5th consecutive month, trading around Trump’s tax proposal loses its luster, the US jobs report surprised on the upside, and thought leaders focused on the potential bubble in the bond market, why the market may be ready for a healthy pullback, and “myths” that are turning investors away from investment opportunities.

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