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Each month, senior leaders of Hancock Whitney's Asset Management team discuss the latest news and events that impact markets and the economy.
Key takeaways this month:
- Policy uncertainty is temporarily removed as lawmakers ‘kicked the can’ until February, averting a government shutdown, and also continue to negotiate Build Back Better legislation.
- The U.S. is experiencing yet another COVID surge along with the emergence of a new variant, Omicron. As of now, we believe any new restrictions in the U.S. will be limited.
- Economic data, despite supply chain frictions and new virus concerns, remain pretty solid. We continue to believe 4Q21 is likely to produce Real GDP growth in a range of 5-6% Q/Q annual rates.
- Global equity markets continued to experience elevated volatility as a number of uncertainties are building headwinds to equity prices. We anticipate more volatility into the close of the year.
- Longer term interest rates continue to fall while shorter term rates continue to creep higher as markets anticipate a more aggressive Fed regarding the pace of tapering purchases, and a more agile Fed free to begin raising short term rates in the spring or summer of 2022.
See and hear this month's presentation by clicking on the play arrow below:
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