by Dan Zalipski, CFA
U.S. Equities are putting on a one-man show posting positive returns over the past month. Various economic indicators point to continued strength in the U.S. Economy. Manufacturing activity is at a 14-year high, consumer confidence is at an 18-year high, and small and medium-sized business sentiment is at a 35-year high. Developed international markets continue to languish but were mostly unchanged from a month ago. The U.K. continues to negotiate their exit from the European Union driving some uncertainty within the region. Broader Europe appears to be coming out of an economic soft-patch that weighed down the first half of the year. Turning to fixed income, yields on treasuries had been held down by investors seeking safety from developments in the emerging markets. This reversed itself when the August jobs report revealed robust wage growth, sending treasury yields higher from 2.88% towards the 3.00% mark.