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Solaris Asset Management Market Commentary October 2018

31 October 2018

The US stock market shifted into overdrive during the 3rd quarter, gaining another 7.1% and leaving the rest of the world in the dust. In Europe, stocks were flat, held in check by uncertainty surrounding Brexit and concerns over Italy’s debt sustainability. Emerging markets, which had already lost ground heading into the quarter, fell modestly as a result of the stronger dollar, higher oil prices and the detrimental effects of trade protectionism. Over the three-month period, Treasury yields increased across the curve, but rose more sharply at the short end as the Fed signaled clearly its plan to continue raising the discount rate several more times in the coming year.

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