BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
Announced this morning, the Consumer Price Index was flat in September, a bit lower than forecasts, and has increased 1.7% on an annual basis. The core rate, which excludes food and energy prices, increased 0.1% in September also a bit below forecasts and has increased 2.4% on an annual basis. While inflation remains muted and at levels close to Federal Reserve targets, it has increased some in recent months here in the U.S. However, inflation globally remains very low, giving the Federal Reserve even more solace in their “mid‐cycle” rate cut adjusting they are working through. Meanwhile, initial jobless claims were 210,000 for the previous week, maintaining their low levels indicative of a firm labor market. In all, bond yields ticked higher following the report and equity futures are 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.