Weekly Update:

Good morning!

The U.S. stock market sell-off of nearly 800 points on the Dow Jones Average and 283 points on the NASDAQ yesterday, reflect the heightened uncertainty about the details of the previously announced US-China tariff squabble 90-day reprieve. Last weekend’s announcement of a deal between Presidents Trump and Xi, was called into question when U.S. Government officials had inconsistent stories of what was agreed.

The downward movement in the yield of the 10-year US Treasury further amplified the concern about a possible downturn in US and global economic growth. This decline in yields resulted in an inverted yield curve, both Monday and Tuesday of this week. Seven out of the last ten yield curve inversions resulted in a recession. While clearly, an inverted yield curve does not guarantee a recession, there is a lot of uncertainty in the markets today.

We’re watching these developments very closely. It is important to keep in mind that the strategic part of our client investment portfolios is carefully built to provide liquidity based on your ALM needs and our desire to reinvest at the highest possible yields.

Please contact your McQueen Financial advisor to discuss the recent market volatility. We are here to ensure your long-term success.

Have a great week.

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