Summer 2019 Newsletter

What a difference a year makes. Just 12 months ago, the US Economy was accelerating. It recorded its first 4% quarterly growth rate in years. The tax cuts provided the kicker. Corporate Earnings responded too. Growth accelerated in 2018, sending the DOW and S&P to new, all-time highs. A year later, growth is slowing. The economic cycle is maturing. This is now the longest economic expansion in American history. But it’s showing signs of fatigue. Trade tensions are adding to the pressures. Recession is a real threat overseas. Recession is a possibility at home too. But after a scare in December, and a serious slowdown from unsustainable growth rates, the DOW and S&P still find themselves back near those all-time highs.

To read the complete Bedell Frazier Summer Newsletter, please click here.

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