Lowered long-term muni view from Neutral/Positive to Neutral
Month: May 2019
Escalating U.S.-China trade tensions caused stocks to sell off more than 2% last week.
First quarter productivity rose at the fastest year-over-year pace since 2010.
Green shoots appeared in U.S. economic data as the economy entered the second quarter. Leading indicators signaled low odds of a recession in the coming year.
The May through October period has historically been the weakest six months for equities.
Markets are positioning for the first Fed rate cut in 10 years.
May’s client letter extols the market’s strong start to 2019 and suggests keeping an eye on market fundamentals.