BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 email@example.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.
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