BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 mbartlett@argenttrust.com
In this morning’s announcement, the Consumer Price Index rose 0.2% in February, as expected, and has increased 1.5% on an annual basis. The core rate, excluding food and energy rose just 0.1% in February, a bit lower than expected, and has increased 2.1% on an annual basis. Inflation data remains muted, with the core rate still near the annual 2% target stated by the Federal Reserve. Wage growth has not yet fed through to higher prices, despite recent strength in Average Hourly Earnings, up over 3% in February per last week’s data. Until it does, the Federal Reserve can afford to remain patient with interest rate policy. In all, equity futures are mixed and bond yields have ticked lower heading into the market open.
This material is intended to be for informational purposes only and is intended for current or prospective clients of Argent Trust Company. This information is obtained from sources believed to be reliable, and its accuracy and completeness are not guaranteed. Information does not constitute a recommendation of any investment strategy, is not intended as investment advice and does not take into account all the circumstances of each investor. Forward‐looking assumptions are Argent Trust Company’s current estimates or expectations of future events or future results based on proprietary research and should not be construed as an estimate or promise of results that a portfolio may achieve. Actual results could differ materially from the results indicated by this information. Investments can go down as well as up. Past performance is not a reliable indicator of future results.
