BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 mbartlett@argenttrust.com
This morning, the European Central Bank (ECB) struck a somewhat dovish tone announcing it will stop its bond buying program by the end of December 2018 and will keep interest rates unchanged, at below zero levels, until at least the summer of 2019. This contrasts with the Federal Reserve decision yesterday to increase rates another 25 basis points and guided to a total of four such increases in 2018, a move up from the previous guidance of three. The U.S. dollar has strengthened against the Euro following this news.
While inflation in the U.S. remains in control, near 2% for core measures excluding food and energy, Retail Sales increased 0.8% in May, above forecasts. Hopefully central banks can maintain the balance of sustaining economic growth without stoking higher inflation in the months ahead. In all, equity futures are higher this morning 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.
