Flash Report September 2017

Investors turned their focus in September to strong global growth and earnings data, possible pro-growth fiscal reform in the US that would lower corporate tax rates, and the Fed’s plan to raise interest rates and “normalize” its balance sheet over time. Importantly, second quarter US growth was revised up once-again to 3.1% based on the strength of increased equipment spending. Responding to these positive cyclical indicators and a rejuvenated optimism, markets adjusted prior expectations and reversed year-to-date trends across many risk assets.

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