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Home   /   News   /   A Message from GMFG – Update 8-22-19

  • A Message from GMFG – Update 8-22-19
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A Message from GMFG – Update 8-22-19

August 22, 2019

I hope everyone has been enjoying their Summer!  At least the Twins are giving us something to cheer about.  If you’ve been watching the news, you know there has been a lot of market volatility.  I thought I would update you on what we see moving forward and how we have been positioning portfolios in light of the recent events.

As I am sure everyone is aware – the Trade War continues to drag on and as we suggested earlier, uncertainty is disrupting many companies spending and investing decisions.  However, the U.S. consumer remains strong.

Unfortunately, outside the U.S., economic data continues to soften.  China recently released some data that was less than impressive and German manufacturing and GDP reports actually pointed to a contraction.  Amidst all of this, the Central Banks around the world are entering another round of lower interest rates and accommodative monetary policy.  That should help to prolong the expansionary period, but rates are already negative, so it’s hard to know how much impact they will have. Clearly growth is slowing around the globe, especially outside the U.S.  And while a recession isn’t on our doorstep the probability of it happening has increased.

So, what does that mean for portfolios?  Over the course of the past year we have been taking profits. We are trying to smooth out the ride and reduce risk by holding a little more cash, increasing our focus on high-quality income producing assets, and we recently reduced our international exposure further.  Having locked in yields on high quality bonds back when rates were higher may not have looked so good then, but it sure looks good now.

In closing, we remain cautious but recognize a Trade War resolution could have a very positive impact on global trade.  We are in a good position to make additional adjustments as necessary.  Hopefully we will see some upside surprises – like a Twins World Series victory!  Thanks for your trust and confidence.  Call us with questions or concerns.

Sincerely,

Robert J. Phillips, CFP®
President
Greater Midwest Financial Group, LLC.
3222 Rice Street
St. Paul, MN 55126-3047
Phone: (651) 490-9790 Fax: (651) 490-9788
robert.phillips@greater-midwest.com
www.greater-midwest.com

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Greater Midwest Financial Group, LLC is not affiliated with Kestra IS or Kestra AS.

CONFIDENTIALITY NOTICE This message is intended only for the use of the individual or entity to which it is addressed, and may contain information that is privileged and confidential. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this message is prohibited. If you have received this communication in error, please notify me immediately by replying to the message or calling me at (651) 490-9790 and deleting the message from your computer. Thank you.

 

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Greater Midwest Financial Group, LLC
3222 Rice Street
St. Paul, MN 55126
651-490-9790
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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Greater Midwest Financial Group, LLC is not affiliated with Kestra IS or Kestra AS. Neither Kestra IS nor Kestra AS provide legal or tax advice.

This site is published for residents of the United States only. Registered Representatives of Kestra IS and Investment Advisor Representatives of Kestra Advisory Services, LLC may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact our Compliance Department at 844-553-7872.

To receive the 2020 Five Star Wealth Manager award, researched and managed by Five Star Professional, a wealth manager must meet 10 objective eligibility and evaluation criteria associated with wealth managers who provide quality services to their clients. 3606 wealth managers in the Twin Cities area were considered for the award. 589 were named 2020 Five Star Wealth Managers which represents 16% of the total candidates in the area. Wealth managers do not pay a fee to be considered or placed on the final list of the 2020 Five Star Wealth Managers. The Five Star award is not indicative of the wealth manager's future performance.

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