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Market Update 09-01-18

As we enter the fourth quarter, results are again showing the US to be the envy of world.

The New Administration’s ability to lower corporate taxation, and reduce governmental regulation has turbo charged the American business, economy and stock markets.

Unfortunately, European and Asian governments have been slow to adapt these basic business friendly strategies, thus are suffering with weaker economies and stock markets.

In addition, rising interest rates are having a negative effect on bonds which is to be expected.

So for us, with globally diversified portfolios, US gains are to be offset from other weaker markets and declining bond values.

We view this as a short term market imbalance, and are anticipating positive numbers for our portfolios as we move toward Free-and-Fair trade agreements worldwide.

Best wishes,

Mark Herhold

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