Welcome to the Markets and Economic Update, provided by the Hancock Whitney Asset Management team as an informational resource for clients and individuals who are interested in hearing our perspectives on current economic issues.
Paul Teten gives us a review of the economy. As of Thursday, February 28, the Commerce Department reported 4th quarter 2.6% GDP growth. It should be noted that the report was late because of the government shutdown.
Richard Chauvin talks about investor optimism surrounding the prospects of a trade deal between the U.S. and China in the near term. The Trump administration seeks a deal that is enforceable, addresses forced technology transfers, protects intellectual property, and meets other requirements. Progress is lacking in some of these areas, and time is not on the administration’s side. The President needs a deal soon to bolster his reelection chances.
Greg Hodlewsky describes how February was a good month for stocks with strong domestic growth. The technology sector dominated with a 7% return for the month, trailed by utilities and industrials.
Eric Reynolds tells us that 10-Year Treasury rates are up about 35 basis points in the last three years and are up another 5 basis points in 2019. Long-term rates are stable with a glacial upward drift. In contrast, short-term or 2-Year Treasury rates are up about 160 basis points over the last three years, but have stopped rising in 2019 because the Fed is now viewed as being on hold.
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