Markets and Economic Update for October: Founders Month Special Edition

David Lundgren, October 8, 2018

We’re pleased to bring you this month’s Hancock Whitney Markets and Economic Update as an important part of Hancock Whitney Founders Month. During October, we celebrate the month we were founded by focusing on financial education for all ages. We believe in a lifelong learning philosophy of financial education. Understanding economic influences affecting us and where we live supports informed financial decisions that help make dreams real for people and the communities we call home.

   

Markets and Economic Update for October 

We've reached the end of the 3rd quarter, and all indications point to a second consecutive quarter of solid economic growth for the U.S. Many economists and GDP prediction models point to inflation adjusted growth in the U.S. likely being in the 3.5-4.0% range.  While U.S. economic growth has improved from the recent past, generally the same can’t be said for the rest of the world. David Lundgren analyzes both consumer and business spending data, and considers whether the recent U.S. economic turnaround will spread to other economies across the globe.
 
A new trade deal to replace NAFTA called the United States-Mexico-Canada was created on September 30th, while the trade dispute with China requires structural reforms by China which will be more difficult to negotiate. Richard Chauvin discusses the causes of the dispute, the market’s reaction to it, and the potential risks and opportunities that lie ahead.    
 
To no one’s surprise, the Fed raised overnight interest rates another 0.25% in September. Jeff Tanguis talks about the bond market, the recent jump in yield for the 10-year U.S. Treasury, and where things to seem to be going.
 
The All-Country World Index (ACWI) was slightly positive for the month, and for the first time in a while, international stocks did slightly better than U.S. large cap stocks. Greg Hodlewsky discusses what happened in September, and where he sees the equity market going.

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