2017 MIDYEAR MARKET OUTLOOK
MARKET SUMMARY With the equity market at all-time highs, now is a good moment for clients to consider if they are comfortable with their equity exposure levels. Sluggish GDP growth in the first quarter is likely to pick up in the second half of the year. The economy is nearing full employment, which could put inflationary pressure on wages as the labor supply tightens. If Congressional gridlock persists, the inability to make political progress on business- friendly legislation could take the steam out of the economy.
2-2.5% 2017 U.S. GDP GROWTH FORECAST 9.7% S&P 500 YTD 4.3% 2017 MAY UNEMPLOYMENT 2.2% 10-YEAR U.S. TREASURY YIELD * 2.69% BLOOMBERG BARCLAYS AGGREGATE BOND INDEX YTD RETURN ** 4.05% BLOOMBERG BARCLAYS MUNICIPAL BOND INDEX YTD RETURN **
*AS OF 5/31/17 **AS OF 6/16/17
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