Keep Calm and Carry On

Andrew H. Hopkins, CFA |
Wilmington Wire
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June 13, 2017 — Markets had cold feet last week with respect to high-momentum, technology-oriented positions that have contributed to a substantial run-up in equity values this year. Since Friday, June 9, the technology sector is down by 4.5% vs. -0.4% for the S&P 500. What goes up too fast often needs a periodic pause or correction.

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UK General Elections: Conservatives and Democratic Unionists form Coalition Government

Clement K. Miller, CFA |
Wilmington Wire
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June 12, 2017—On June 8th, the UK held general elections. The ruling Conservatives won more seats in the House of Commons than any other party, but fell short of retaining their governing majority. As a result, the Conservatives had to join up with a small regional northern Irish political party to form a coalition government. Conservative Party leader Theresa May will continue as Prime Minister—at least for now.Brexit was the principal issue in the general election.

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Labor Market Continues to Tighten and Keeps the Fed on Track

Luke Tilley |
Wilmington Wire
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June 2, 2017 — The market got a bit of a shock with the release of the May jobs report, which came in at 138,000 jobs added, well below the Bloomberg median expectation of 182,000 and startlingly below the 253,000 in the private market figure published by ADP the day before. Combine that with a downward revision of job growth in the previous two months of 66,000 fewer jobs than previously thought, and the market response was swift with a selloff of the U.S.

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