Markets & Economy

The Economy: August 2017

THE ECONOMY: As of August 2017

Second quarter U.S. GDP got a nice revision, coming in at a 3 percent annual rate versus the previous estimate of 2.6 percent. On the other hand, geopolitical events, especially a number of missile tests by North Korea, led to increasingly volatile financial markets. The S&P 500, however, still managed to eke out a 0.31 percent gain in August. Emerging markets continued their hot streak, gaining 2.23 percent for the month, bringing year-to-date returns up to nearly 30 percent! Gold moved higher and treasury yields turned lower amidst the hectic stock market. The 10-Year U.S. Treasury yield ended August at 2.12 percent.