Q4 2018 market commentary
By: James K. Tonrey, Jr., Chief Executive Officer
The recent stock market whiplash reminds us that risk can and will raise its ugly head when least expected. Over the summer months and into the fall, CEO’s across the country could not have been more positive on the economy and their company’s future. Unemployment is at historic lows, inflation controlled, asset prices at or near all time highs, global growth, while a bit lower, is still favorable, and, importantly, the consumer is spending and banks are lending. Lest we forget, interest rates, although a tad higher, are still advantageous. What happened so abruptly in October to change this positive narrative?
Let’s look at the following six events that met in an almost perfect storm last fall.