gasoline demand. This ended up becoming a buying opportunity for the insurance sector as an initial selloff reversed course and investors realized the large insurers do not have much exposure to the state. If you have any money in the energy sector, don't miss this short, free interview on YouTube. Click here to watch it now. In Summary... Hurricanes, floods, earthquakes, and North Korea fears were all around us last month and in early September. But 9/11 was the reminder that we can support each other and rebuild. It was a day that real heroes ran into harm's way just to try and help. We saw a lot of that type of spirit and sacrifice over the last few weeks. We'll get Houston and Florida back, and we'll help Mexico and care for the destitute in the Caribbean. It's what we do. The focus finally returned to doing the right thing for the people. The tweets stopped, there has been bipartisan agreement to do whatever it takes to help the afflicted communities, and with the ball rolling in the right direction, a "can do" spirit surrounds tax reform. So the market shifted quickly to the reflation trade. Bonds sold off, yields bumped up, and buyers were back scooping tech, financials, and industrials. Companies involved in the rebuild – including suppliers, raw-material and finished-goods providers, and transport and logistics firms – all got their marching orders, and their stocks soared higher on the "Buy American" theme.
September 20 The Federal Reserve is
WATCH THESE DATES
scheduled to release its policy decision on interest rates, with a press conference afterward. It is the perfect opportunity for it to announce the start of the balance sheet unwind. September 22 Markit releases U.S. and European Flash Purchasing Managers Index data. September 24 Germany holds its federal elections. September 25 Speaker of the House Paul Ryan (R-WI) and Director of the Office of Management and Budget Mick Mulvaney (R-SC) have suggested this as the target release date for tax-reform plan details. September 28-30 China releases PMI data. October 5 The ECB releases monetary-policy meeting minutes. October 13-17 TheU.S., China, and theeurozone release ConsumerPrice Index (CPI) data for September.
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American Consequences | 15
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