Enlarge Your Faith
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It's Groundhog Day!
2017 2nd quarter market review
John Fischer, CFA®, CFP® | Chief Investment Officer
In the classic movie Groundhog Day, Bill Murray plays a lovable character who relives the same day over and over again. Though Murray wakes up to a new day, he has the same daily experiences and meets the exact same challenges. The second quarter was reminiscent of the movie. Similar to the first quarter, we saw solid corporate earnings growth, respectable economic numbers, a persistent low interest rate environment, and continued hope by investors that the pro-growth policies proposed by the Trump administration would eventually provide a boost to the U.S. economy. The second quarter also brought more of the same in terms of returns with every major asset class finishing in positive territory again. However, the challenges from the first quarter also carried over to the second quarter in the form of policy uncertainty of President Trump’s administration, geopolitical risks, and the direction of the Federal Reserve’s future monetary policy.
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