by Dan Zalipski, CFA & Scott Rosenquist, CFA
The markets seem to be playing a game of tug-of-war, or should I say “tug-of-trade-war”? On one end of the rope you have a solid U.S. economy backed up by strong corporate earnings growth. On the other end you have an ongoing trade war, rising interest rates, and an economic crisis unfolding in Turkey. The U.S. markets have pushed higher throughout the quarter, with the S&P 500 near its January high. The international markets continue to struggle as they cope with the UK’s ongoing Brexit negotiations, trade tensions with the U.S., and a strengthening dollar that dampens international returns.