Catalan Independence Conflict—Limited Investment Implications

Clement K. Miller, CFA |
Wilmington Wire
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October 9, 2017— On October 1, the pro-independence government of Catalonia in Spain (Europe’s fourth-largest equity market) held an independence referendum:Ever since Spain became a democratic Kingdom in 1975, Catalonia, the nation’s wealthiest region, has agitated for increasing …

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A Stormy Jobs Report

Luke Tilley |
Wilmington Wire
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October 6, 2017— The employment report for September reflected continued underlying strength in the U.S. labor market, but also a significant impact from the multiple hurricanes that month. On balance, we are encouraged by the continued strength, and especially by the return of stronger wage growth that is supportive of our positioning. Next month, we expect to see a reversal of some of these storm impacts.Headline job losses of 33,000 were a result of the storms in our view.

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Implications of Trump’s Pick for Fed Chair

Meghan Shue |
Wilmington Wire
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October 5, 2017— While President Trump is still early in his tenure, it is fair to speculate that one of his most influential contributions will come in the appointments he will make to key posts within the Federal Reserve Board (“Fed”). The composition of the Fed has incredibly important implications for the U.S. and international financial systems.

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