Some Good News for the Holiday Weekend
Weekly Commentary, September 1st, 2017
- Equity markets were positive this week with U.S. stocks (S&P 500) up 1.34% and international stocks (EAFE) up 0.36%.
- Fixed income markets also saw gains this week with investment grade bonds (AGG) up 0.07% and high yield bonds (JNK) up 0.39%.
- Brexit – negotiations continue to plod along with the U.K. Brexit Secretary David Davis asking for “flexibility and imagination” while the EU insists on first finalizing the sum of the penalty for leaving the union.
- Tax Reform – The Trump administration has a "very detailed" tax plan ready and "couldn't be more excited" about its prospects, according to Treasury Secretary Steven Mnuchin, who added that the debt ceiling issue won't hold America back. "Details will come out later this month, it's going to go through a committee process, and we expect the House and the Senate will get this to the president to sign this year." (source: Seeking Alpha)
- Commentary: The average calendar year usually brings one market correction, which no one can time, but what is important is the actual data is not only good but improving. What people “feel” should happen or whether people “feel” the market is overvalued is irrelevant and hardly a repeatable process. Let’s take a quick look at the current picture and gain some ammo for the perma-pessimists.
To read the full commentary, click below!