3 Minute Market Outlook - Q3 '19

Here’s a quick look at the most important charts from our 3rd Quarter Market & Economic Update.

• Check out the full 30 minute update here (including a link to download our entire chart packet).
• Read the ‘Investment Grade Junk’ article referenced in the update here.

I realize some of you don’t like to watch videos, so here are the slides.

Economic Outlook: Still feeling the impact of rate hikes from last September & December. Cuts now are unlikely to change direction of economic growth for a while, which is a big risk for investors.

Stock Market Outlook: We have been in a prolonged period of strong gains for stocks. Historically this means a very sharp 18-24 month sell-off. Disappointment from the Fed’s inability to spark economic growth could cause it to start falling. More likely, the cause will be our final chart.

Bond Market Outlook: By far the area that is likely to cause the next crisis. Corporations have more leverage now than in 2007. For more read, “Investment Grade Junk"