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PMG Opinion Letter and Market Review
Test Your Knowledge of Financial Basics
Business Owners: Don't Neglect Your Own Retirement Plan
Will rising interest rates impact my pension benefits?
I've heard the term "ERISA fiduciary." What does it mean?
How much money should I save for retirement?
The Fed's Great Unwind and Your Portfolio
Are con artists adopting trendy twists on old scams?
What is duration, and why should I pay attention to it?
Retirement Myths and Realities


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PMG Opinion Letter and Market Review

The second quarter of 2018 can be called a lot of things, but boring isn't one of them. The potential for a trade war between the United States and China heated up in April as China responded to the threat of U.S. tariffs on Chinese Imports by warning of the same magnitude of tariffs on U.S. products. The uncertainty from the rhetoric between the U.S. and China/EU was calmed somewhat by the favorable corporate earnings reports from many companies. The equity markets ended almost universally positive for the second quarter.


The energy sector was one of the drivers in the equity markets from the expected to benefits from higher oil prices. Oil prices hit multi-year highs in May. Threatened imposition of export bans on Iran and the implosion of Venezuela exports are limiting the expectations of supply. The expectations are starting to reverse from the long-term excess of supply over demand to the reverse causing higher oil prices. 




are targeting $100 per barrel to help shore up their national finances. Expect the OPEC production limits to remain in place through most of this year and the price of oil to continue on it current gradually increasing trajectory.

The paces of interest rate hikes is the other big story of the first quarter. Inflation has moved little since the beginning of the year, but income increased. Most pundits are expecting at least 2 more increases in the federal funds rate, with some looking for 3 more this year. The FOMC described the economic activity as "moderate".

Expect the political headlines to continue to dominate going through the rest of the year. The economy is expected to maintain its course of relative strength. The unpredictability on a variety of areas out of Washington, DC will continue to contribute to higher volatility in the markets. Out of Washington alone, the Russian investigation and other legal actions against the President, tariffs by various nations around the world in response to U.S. tariffs, the Iran nuclear deal, immigration, North Korea meeting, dysfunctional congress, congressional elections, etc will more than likely contribute to continued volatility in the markets though out the rest of the year. 

We appreciate your trust in Pebble Management Group. If you have any questions about your account or your goals have changed, please call your advisor to schedule a relationship review.

 
©2018 Broadridge Investor Communication Solutions, Inc. All rights reserved.
 
 
 

Pebble Management Group, LLC is a Registered Investment Adviser. Information presented in this publication is not intended to be specific investment advice. Investors should consult a qualified financial adviser before making investments specific to their needs and situation. The information in this website constitutes neither an offer to sell nor a solicitation to invest. Such offer or solicitation will be made only in those jurisdictions where permitted by law.

To the extent that this material concerns tax or legal matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax and/or legal professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.



This communication is strictly intended for individuals residing in the state(s) of LA. No offers may be made or accepted from any resident outside the specific states referenced.
 


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