Welcome to the Markets and Economic Update, provided monthly by the Hancock Whitney Investments team as an informational resource for clients and individuals who are interested in hearing our perspectives on current economic issues.
- The end of the second quarter was marked by strong economic growth. David Lundgren discusses how consumer spending has been looking much more positive closing out the quarter.
- Tariffs present a headwind to global growth, but Richard Chauvin explains that U.S. tax reform represents an under-appreciated tailwind of much larger proportions. Nevertheless, further strengthening of the U.S. dollar presents risks to financially weak emerging market countries and Asian countries in the China supply chain.
- Short term bond yields were up slightly in June while longer maturities remained range bound. Jeffrey Tanguis discusses recent changes in interest rates and his thoughts on the recent Fed tightening and his outlook for the 2nd half of 2018.
- US stock markets experienced an increase in volatility driven primarily by possible protectionist trade policies and tariffs. Large caps and mid-caps managed to produce a small gain, but small caps beat both for the second month in a row. International markets were hit hard also out of fears of a trade war.
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