In the July/August 2017 issue of our monthly flagship publication, we feature:

  • On the Record by Chief Investment Officer Tony Roth, Hot fun in the summertime?
  • In Focus provides a high-level overview of hedge funds and how they may help curb volatility.
  • Investment positioning, major themes, and asset class positioning updates.

The three legislative weeks in July that follow the Fourth of July recess are setting up to be pivotal for the Trump administration’s agenda and for markets. There are very few legislative days left in the fiscal year, which ends September 30. Republicans long ago set a goal of having meaningful success before their August recess. To make things more complicated, the nation’s debt ceiling will likely need to be addressed before then, too. All of this sets up to very challenging to pass the healthcare legislation before the end of the fiscal year. If they fail to do this, the Republicans will be pushing tax reform—their next major item and the one that could provide the biggest boost to markets—into very uncertain territory.

Please see important disclosures at the end of the article. 

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