Seeking Growth in a Softer Economy

2019 Midyear Insights

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By Brent Puff - July 16, 2019

US stocks posted their best first half of a year in more than two decades. Yet as our investment team looks out over the rest of 2019 and into 2020, we believe it will be more difficult for markets to continue making big moves higher.

Growth around the world is under pressure in both developed and developing economies. This more modest pace of global economic activity is in turn slowing the pace of corporate profits. Moreover, the trade dispute between the US and China remains unresolved and is likely to continue to pressure business confidence, investment and ultimately future global economic activity.

Although the shift to greater monetary policy accommodation by the US Federal Reserve and other leading central banks around the world should help counter some of the headwinds derived from slower global growth, we believe the growth environment will remain challenging, particularly if the trade dispute persists.

In my latest video, I outline the issues in more detail and share our approach in this more challenging environment.


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