2018 Midyear Market Outlook

2018 MIDYEAR OUTLOOK COMMERCE TRUST COMPANY AUTHORS

SCOTT M. COLBERT, CFA ® EXECUTIVE VICE PRESIDENT, CHIEF ECONOMIST AND DIRECTOR OF FIXED INCOME MANAGEMENT

JOSEPH C. WILLIAMS III, CFA ® EXECUTIVE VICE PRESIDENT, DIRECTOR OF INVESTMENT STRATEGY

BARBARA TURLEY, CFA ® SENIOR VICE PRESIDENT, DIRECTOR OF INVESTMENT RESEARCH

WM. MICHAEL CODY, CFA ® SENIOR VICE PRESIDENT, DIRECTOR OF FIXED INCOME TRADING

CYNTHIA RAPPONOTTI, CFA ® , CAIA ® SENIOR VICE PRESIDENT, SENIOR PORTFOLIO MANAGER

DOUGLAS R. KOESTER, CFA ® SENIOR VICE PRESIDENT, SENIOR PORTFOLIO MANAGER

Wealth | Investments | Planning Commerce Trust Company

1-855-295-7821 | commercetrustcompany.com NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

merce Trust Company is a division of Commerce Bank. Commerce Trust Company is a divisi n of Commerce Bank.

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