Market opens lower to begin a new week. Growth is slowing around the globe, as the IMF reduced its growth rate for the Global Economy to 3.5%. Growth is slowing fast in China, with Q4 GDP reported at 6.6%. It’s the slowest growth rate in 28 years. This has been a recurring theme and the Trade War has antagonized the second largest global economy. Does this speed up a deal? One would think. But China is playing the long game here. A deal on tariffs seems quite likely and soon. But the war on Intellectual Property is one that will be around a long, long time. It’s really just beginning. The Federal Government remains closed in certain areas. President Trump proposed a plan over the weekend which was quickly knocked down as a non-starter by Speaker Pelosi. We can see how this relationship is going to go. Brexit keeps moving, but in which direction is uncertain. Oil is lower off slowing growth. Gold is higher.
Have a great morning,
Mike Frazier
