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July Economic Update

July 18, 2017
David Lundgren, CFA®
David Lundgren, CFA®

Welcome to the Hancock and Whitney Bank Economic Update. The Investments team provides monthly updates as an informational resource for clients and individuals who are interested in hearing our perspectives on current economic issues.

Hancock Whitney Economic Update - July

Here's what we cover on this month's call:

  • The June non-farm payroll report showed 222,000 new jobs, which was above all the forecasts by professional economists. In contrast, unemployment ticked up to 4.4%, and wage growth remained disappointing at a 2.5% year-over-year growth rate. John Portwood will provide insight into these conflicting signals.
  • If there is one topic that can confuse even experienced investors, it's the impact that currency fluctuations can have on the investment returns they receive. Jeff Tanguis will provide some recent examples of how the downtrend in the U.S dollar has benefited investors in foreign fixed income funds.
  • June saw a complete reversal of recent trends in stocks. Value and small cap styles went from laggards to leaders. Greg Hodlewsky reviews the results and provides an update on which areas we favor.
  • Have we seen the lows in interest rates for this economic cycle? Are central bankers worldwide about to “remove the punchbowl”? Jeff Tanguis describes the recent change in sentiment among bond investors and what precipitated their belief that the era of near zero interest rates is about to end.
  • When will Congressional Republicans move away from their repeated, and seemingly futile, attempts to repeal and replace the Affordable Care Act, and move onto the next big agenda item – tax reform? Richard Chauvin will provide answers, including the prospect of a “revenue-neutral” tax bill that may turn out to be a pleasant surprise for taxpayers and investors.

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The information, views, opinions, and positions expressed by the author(s), presenter(s) and/or presented in the article are those of the author or individual who made the statement and do not necessarily reflect the policies, views, opinions, and positions of Whitney Bank. Whitney Bank makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information presented. This information is general in nature and is provided for educational purposes only. Information provided and statements made should not be relied on or interpreted as accounting, financial planning, investment, legal, or tax advice. Whitney Bank encourages you to consult a professional for advice applicable to your specific situation.

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