Celebrating 20 Years
BTC Capital Management is celebrating 20 years in business this year. A lot has changed over these two decades and I am proud of how the team has worked together to grow the business and make an impact for our clients.
In this issue:
Economic and Market Overview
The Resilience Continues
Despite numerous forecasts of impending recession, the U.S. economy continues to grow. Second quarter GDP performance is now in the books with a reading of 2.1% which was virtually equal to the 2.0% level generated in the first quarter.
Fixed Income Commentary
Interest Rates Jump
Interest rate volatility spikes again as we begin the fourth quarter with the MOVE Index jumping up above 140.
Equity Commentary
All Fall Down
Broad equity market indexes exhibited negative returns for the third quarter, as the Russell 3000 and the MSCI All-Country World Index ex-USA declined 3.3% and 3.8%, respectively.