Midyear Update: May Showers Bring June Flowers

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We unabashedly tout our 2019 theme, “The Storm before the Calm,” as it accurately unfolded in the markets in the first half. The storm in December was followed by a calm from January through April, which sent markets to near record highs.

  • In the first half of 2019 our market theme, “The Storm before the Calm,” has unfolded as we predicted
  • We originally anticipated a rising rate environment, however, this outlook has changed and is allowing for a rebound in fundamentals
  • Markets have been soaring, with the S&P 500 posting its best half-year gain since 1997
  • Corporate earnings may be the best indicator to follow as they continue to beat all-time highs
  • An apt metaphor for investors may be to take advantage of the blowing wind and go “full sail”

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