Bellevue Perspectives

Monday Minute

FOMC minutes released underscored that the Fed remains committed to gradually raising rates, but probably only to a low level.  The Fed’s neutral rate is about 2%, which would mean a flattening of the yield curve over the next 12-18 months.  (Cornerstone Macro) Iran nuclear deal on life support after President Trump refused to certify ...

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Monday Minute

US equity indexes finish another week higher and the VIX (volatility index) hits an all-time low of 9.19.  Can it really continue??  https://www.wsj.com/articles/asia-markets-mostly-higher-japan-stocks-lack-direction-1507171181 Wage inflation is accelerating, currently above 4% YoY.  Unemployment hits 16 year low to 4.2%.  (Cornerstone Macro) All US equity markets are at or near all-time highs with the September ISM Manufacturing ...

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Monday Minute

The “FANG” stocks took a beating early last week as investors rotate to value stocks.  https://www.bloomberg.com/news/articles/2017-09-25/fang-flu-breaks-out-anew-as-rotators-push-value-thesis-to-brink Stocks trade higher mid-week lead by the banks thanks to expectations of interest rates continuing to move higher.  New GOP tax package was also released with a muted response. https://www.nytimes.com/interactive/2017/09/27/us/politics/six-charts-to-explain-the-republican-tax-plan.html Puerto Rico and the U.S. Virgin Islands remained ...

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Monday Minute

Federal  Reserve leaves rates unchanged and confirmed the reduction of their balance sheet starting in October.  Consensus for a third rate hike still in 2017 and possibly three in 2018.  https://www.reuters.com/article/us-usa-fed/fed-keeps-u-s-rates-steady-to-start-portfolio-drawdown-in-october-idUSKCN1BV0GJ Trump announces new sanctions aimed at North Korea.  http://www.cnn.com/2017/09/21/politics/donald-trump-north-korea-sanctions/index.html WTI Crude moves through the $50 resistance level to $52.22/barrel on OPEC expectations to extend ...

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Protecting Yourself in an Online World Educational Event Recap

HighTower Bellevue hosted an educational event, Protecting Yourself in an Online World, Thursday, September 21 where three cybersecurity experts shared their thoughts and experiences on what individuals can do to help prevent themselves from falling victim to cybercrime.  Thank you to our guest speakers, Frances Dewing, COO of Rubica, Eyal Schwartz, Principal Project Manager at ...

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Monday Minute

Early last week  the U.S. equity markets rallied, courtesy of eased geopolitical concerns and early economic assessments of losses in the aftermath of Hurricane Irma are less than feared.  (Schwab) Oil jumped mid-week to $49.30, a 5 week high on improved demand. https://www.cnbc.com/2017/09/12/oil-prices-mixed-after-opec-expects-higher-demand-us-stockpile-rise.html Bank stocks move higher as the 10 Year Treasury yield moves from ...

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Monday Minute

Gasoline prices move higher, affected by flooding from Harvey.  http://www.reuters.com/article/us-storm-harvey-energy/texas-refineries-begin-restart-after-hit-from-harvey-idUSKCN1BD0B9 North Korea tests another nuclear weapon, sending  waves through the equity markets on Monday.  http://www.foxnews.com/world/2017/09/04/south-korea-holds-second-live-fire-drill-after-north-koreas-hydrogen-bomb-test.html In a surprise move, Trump sides with Democrats and extends debt limit deadline and even considers eliminating it.  http://www.latimes.com/business/hiltzik/la-fi-hiltzik-debt-ceiling-trump-20170908-story.html Federal Reserve Vice Chairman Stanley Fischer will step down in mid-October.  ...

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Monday Minute

According to the Organization for Economic Cooperation and Development,  all 45 countries it tracks are set to grow this year and 33 of them to accelerate from 2016 thanks to low interest rates and fading crises situations.  https://www.wsj.com/articles/global-economies-grow-in-sync-1503507503?mg=prod/accounts-wsj Market sold off early last week after N. Korea launches a missile over Japan. https://www.reuters.com/article/us-northkorea-missiles/message-from-north-korean-missile-over-japan-loud-and-clear-trump-idUSKCN1B8283?il=0 Q2 GDP ...

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This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.

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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