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Weekly Market Comment – July 1st 2019

Markets traded in a very tight range over the week as investors looked forward to the G20 summit.  The hope is that a Xi Jinping and Donal Trump meeting could kick-start trade talks and lead to a compromise. Away from the G-20, Federal Reserve Chair Jerome Powell tried to rein in his previous dovish stance by reiterating that some dissenting views were expressed by certain board members. The trend of ‘bond proxies’ such as utilities and consumer staples outperforming came to an end this week with the financials and base metals sectors outperforming the index.

 

-Derek Heffernan