July 13, 2018—The unresolved issue of Brexit—the UK’s exit from the European Union (EU)—continues to present ongoing uncertainty for the UK and broader European equities. Markets have already priced in much of this uncertainty. If the UK fails to conclude an agreement with the EU on post-Brexit arrangements, we believe equities will be negatively repriced. If the U.K.
July 13, 2018— The slope of the yield curve has continued its relentless slide this month, with the yield differential between a 10-year and a 2-year Treasury bond falling below 0.27%. The closer this figure gets to zero, the more suspect investors become about whether the economy can withstand higher interest rates from the Fed.
July 13, 2018— On July 10, the Trump administration announced a new round of potential tariffs on $200 billion worth of goods imported from China—on the heels of the first round of tariffs which went into effect on July 6. As my colleague, Senior Investment Strategist Meghan Shue, wrote last month in ”U.S.-China Trade Tensions