
This Week in the Market
With Scott McCaghren and Tony LaPorta
Equity markets have a significant amount of developmental challenges ahead. As you will notice in the audio portion of the commentary, we are struggling to make sense of the current market landscape due to the China trade negotiations taking place as this is being written. Last night there was some news that came out of China that sent the markets markedly lower due to the rumor that the Chinese had packed up and left town. This news turned out to be fake which then sent the indices higher throughout most of the day. That is the very reason why both portions of the commentary will be brief. There is a 50/50 chance at this point that an agreement will be reached. Our lean is that there will be no agreement, but plenty of rhetoric as to the great progress that was made. We also currently maintain our position as to the likelihood of October being a very volatile month. That is based on both historical and current reasons. We must continue to rely on our hedge positioning to ensure that we do not get caught up in some sort of capitulation lower, we must protect our progress on the year. We will certainly be making adjustments regardless of the outcome of these trade talks or the seasonal nature of October.
As always, we continue to monitor all equity, treasury, commodity and currency conditions in order to efficiently deploy capital as well as protect invested assets.

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