Bellevue Perspectives

Monday Minute

President Trump disbands both of his business advisory groups, the Strategic and Policy Forum and the manufacturing council. (CNBC) Minutes from the July Fed meeting indicate rate hike uncertainty given soft inflation numbers.  Odds of another rate hike this year look to be about 50/50. (Cornerstone Macro) Fears that Trump’s agenda may be delayed further ...

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Monday Minute

Saber rattling with N. Korea intensifies and the markets sell off midweek.  S&P 500 ending the week  down 1.4%.  http://www.cnn.com/2017/08/08/politics/north-korea-missile-ready-nuclear-weapons/index.html Monday the markets return to uptrend with the VIX (volatility index) giving back some of last week’s rally. We think the economic fundamentals still remain positive, but geopolitical risks are growing.  Our Fixed Income and ...

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Monday Minute

Real GDP increased at an annual rate of 2.6% in Q2.  1.4% higher than Q1.  https://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm Apple’s stellar earnings report helped push the Dow up over the 22,000 threshold.  http://www.schwab.com/public/schwab/resource_center/expert_insight/markets_economy/schwab_market_update The Labor Department reported that nonfarm payrolls rose by 209,000 jobs and the unemployment rate dipped to 4.3%.  Average hourly earnings increased 0.3% last month, ...

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Monday Minute

• Caterpillar, Boeing, AT&T and McDonalds announce strong Q2 earnings which push the markets up mid-week, followed by lackluster earnings from the likes of Starbucks and Amazon late in the week. (CNBC) https://www.cnbc.com/2017/07/26/cramer-finds-old-dog-stocks-teaching-the-market-new-tricks.html • OPEC focuses again on real production cuts, pushing crude up to nearly $50/barrel. (TheStreet.com) • The Federal Reserve holds steady on ...

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Monday Minute

Two additional Republican Senators defect which kills the new Trump Healthcare overhaul, makes revenue neutral tax reform by itself unlikely. https://www.nytimes.com/2017/07/17/us/politics/health-care-overhaul-collapses-as-two-republican-senators-defect.html U.S. Energy Information Administration’s weekly report Wednesday showed draw-downs that provided a spark to oil prices mid week. http://www.bnn.ca/oil-dips-on-rising-u-s-crude-inventories-high-opec-supplies-1.808202 The U.S. dollar ended the week down another 1.7%, now down 10% for the year. http://news.morningstar.com/all/market-watch/TDJNMW20170724550/update-dollar-edges-higher-ahead-of-fed-meeting-but-remains-lower-for-july.aspx And in ...

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Monday Minute

The Fed released minutes from its June meeting which indicated they will begin reducing their balance sheet in the next few months through a tapered approach, initially $6b in Treasuries and $4b in agency debt and mortgage backed securities per month. – https://www.federalreserve.gov/monetarypolicy/fomcminutes20170614.htm June payroll employment was better than expected, up 222k –  https://www.usnews.com/news/economy/articles/2017-07-07/labor-market-blasts-off-in-june-with-222k-job-gains Trump ...

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Monday Minute

Healthcare reform vote gets delayed due to lack of necessary votes to pass. Market leaders sell off mid-week due to prospects of Trump agenda. Second round of bank stress tests that focus on each bank’s capital plans were very positive with all 34 banks passing. Cyberattacks seem like an issue that corporate America and individuals ...

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Monday Minute

Oil drops to $43.34/barrel mid-week. First round of Federal Reserve stress test conducted on the 34 largest banks in the U.S. was positive, as every bank that was subject to the test passed the Fed’s requirements.  More results next week with second round of test results. Demand side of the economy has disappointed in recent ...

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All data and information reference herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is provided as general market commentary, it does not constitute investment advice. The team and HighTower shall not in any way be liable for claims, and make no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information, or for statements or errors contained in or omissions from the obtained data and information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change without notice.

This document was created for informational purposes only; the opinions expressed are solely those of the team and do not represent those of HighTower Advisors, LLC, or any of its affiliates.

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