The Morning View from the West End: July 27, 2018

BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611   mbartlett@argenttrust.com

Announced this morning, the first reading of GDP growth indicates a 4.1% increase in the second quarter 2018. This is the first quarterly reading above 4% since 2014. The strength was driven in part by personal consumption, which comprises nearly 70% of the economy. Also in the report, the core PCE price index, which excludes food and energy, increased 2.0% in the quarter, again near the stated inflation target by the Federal Reserve. A strong report, with inflation readings near targets, suggests the Federal Reserve will maintain their moderate interest rate increases for the time being, assuming inflation remains in check. Following the report, equity futures are slightly higher and bond yields are slightly lower heading 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.

About

Argent Financial Group

Celebrating its 30th anniversary in 2020, Argent Financial Group (Argent) is a leading, independent, fiduciary wealth management firm. Responsible for more than $30 billion in client assets, Argent provides individuals, families, businesses and institutions with a broad range of wealth management services, including trust and estate administration, investment management, ESOPs, retirement plan consulting, funeral and cemetery trusts, charitable organization administration, oil and gas (mineral) management and other unique financial services. Headquartered in Ruston, Louisiana, Argent was formed in 1990 and traces its roots back to 1930.

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