August can be hot and muggy. It leaves one pining for a fresh autumn breeze. Since 1970, August has, on average, been a lackluster performer for stocks (St. Louis Federal Reserve S&P 500 data). Last month was no exception – hot and muggy.
There has been no shortage of recession chatter.
- Trade war
- Economic uncertainty
- Yield curve inversion & falling Treasury yields
Google Trends highlights a recent rise in searches for “recession” and “yield curve.”
There has been no shortage of talk and angst over the inversion of the yield curve, trade war anxieties, and chatter the economy may slip into a recession. However, a quick glance at consumer confidence suggests most of us are brushing aside any concerns.
Despite perceived economic headwinds, consumer confidence in August slipped just 0.7 points to a still-strong 135.1. In fact, recent levels are only exceeded by the late 1990s.
Please be advised that our office will be closed on Monday, September 2nd, in honor of Labor Day. We wish all of our clients and their families a happy and safe extended weekend!
We will resume our regular hours of operation on Tuesday, September 3rd.