BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 mbartlett@argenttrust.com
Announced this morning, the second estimate of GDP growth in the fourth quarter came in at 2.5%, one-tenth lower than the first estimate. Lower revisions on consumer spending and private
fixed investment were noted as the reasons for the slightly lower figure. It remains to be seen if upcoming tax cuts will lead to 3.0% growth later this year.
Meanwhile, equity markets moved lower yesterday, as the interest rate on the 10-year note again moved above 2.9% following Federal Reserve chairman Powell’s testimony to Congress. While
no new policy was revealed, the markets continue to digest the effect of expected interest rate increases in 2018. In all, equity futures are higher this morning leading into the market open.
This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.
