Upload
others
View
5
Download
0
Embed Size (px)
Citation preview
HIGHLIGHTS
2
Economic and Financial Indicators - January 2017 Indicators are Forward-looking Three to Six Months
Source: City National Rochdale. As of January 2017.
ECONOMIC & FINANCIAL INDICATORS
Indicators signal modest U.S.economic growth ahead
Trump victory raisessignificant policy uncertainty
Healthy consumer and laborfundamentals
Fiscal stimulus should helpboost growth
Fed policy stillaccommodative, buteffectiveness waning
Steady housing recoverycontinues
Uncertain politicalenvironment = lower businessconfidence
Trade protectionism anotherchallenge for global economy
Valuations appear “full andfair”
Corporate profit growth setfor modest improvement Speedometer color indicates the magnitude of the impact on economic financial markets. The arrow signifies the directional change
in indicator. Two arrows indicate a change from the previous month. One arrow indicates that no change occurred.
Positive/Strengthening Negative/Weakening Financial Market Impact
Disposable Personal Income/Wages
Monetary Policy U.S. Economic Outlook Consumer Sentiment Yield Curve
Housing/Mortgages Labor Market Interest Rates Consumer Spending Fiscal Policy
Political Environment Leading Indexes Corporate Profit Growth
Business Outlook Spending/Surveys
Global Economic Outlook
Geopolitical Risk Energy Cost Impact Inflation Credit Demand/Availability
Equity Market Valuation
2
Economic and Financial Indicators
City National Rochdale Indicators show widespread strength and continue to signal modest U.S. economic growth ahead.
Source: City National Rochdale. As of February 2017.
ECONOMIC & FINANCIAL INDICATORS
Indicators are Forward-looking Three to Six Months
Speedometer color indicates the magnitude of the impact on economic financial markets. The arrow signifies the directional change in indicator. Two arrows indicate a change from the previous month. One arrow indicates that no change occurred.
Positive/Strengthening Negative/Weakening Financial Market Impact
Disposable Personal Income/Wages
Monetary Policy U.S. Economic Outlook Consumer Sentiment Yield Curve
Housing/Mortgages Labor Market Interest Rates Consumer Spending Fiscal Policy
Political Environment Leading Indexes Corporate Profit Growth
Business Outlook Spending/Surveys
Global Economic Outlook
Geopolitical Risk Energy Cost Impact Inflation Credit Demand/Availability
Equity Market Valuation
2
Economic and Financial Indicators
City National Rochdale Indicators show widespread strength and continue to signal modest U.S. economic growth ahead.
Source: City National Rochdale. As of March 2017.
ECONOMIC & FINANCIAL INDICATORS
Indicators are Forward-looking Three to Six Months
Speedometer color indicates the magnitude of the impact on economic financial markets. The arrow signifies the directional change in indicator. Two arrows indicate a change from the previous month. One arrow indicates that no change occurred.
Positive/Strengthening Negative/Weakening Financial Market Impact
Disposable Personal Income/Wages
Monetary Policy U.S. Economic Outlook Consumer Sentiment Yield Curve
Housing/Mortgages Labor Market Interest Rates Consumer Spending Fiscal Policy
Political Environment Leading Indexes Corporate Profit Growth
Business Outlook Spending/Surveys
Global Economic Outlook
Geopolitical Risk Energy Cost Impact Inflation Credit Demand/Availability
Equity Market Valuation
2
Economic and Financial Indicators
City National Rochdale Indicators show widespread strength and continue to signal modest U.S. economic growth ahead.
Source: City National Rochdale. As of April 2017.
ECONOMIC & FINANCIAL INDICATORS
Indicators are Forward-looking Three to Six Months
Speedometer color indicates the magnitude of the impact on economic financial markets. The arrow signifies the directional change in indicator. Two arrows indicate a change from the previous month. One arrow indicates that no change occurred.
Positive/Strengthening Negative/Weakening Financial Market Impact
Disposable Personal Income/Wages
Monetary Policy U.S. Economic Outlook Consumer Sentiment Yield Curve
Housing/Mortgages Labor Market Interest Rates Consumer Spending Fiscal Policy
Political Environment Leading Indexes Corporate Profit Growth
Business Outlook Spending/Surveys
Global Economic Outlook
Geopolitical Risk Energy Cost Impact Inflation Credit Demand/Availability
Equity Market Valuation
2
City National Rochdale Indicators show widespread strength and continue to signal modest U.S. economic growth ahead.
Source: City National Rochdale. As of May 2017.
ECONOMIC AND FINANCIAL INDICATORS
Economic and Financial Indicators - May Indicators Are Forward-Looking Three to Six Months
Speedometer color indicates the magnitude of the impact on economic financial markets. The arrow signifies the directional change in the indicator. Two arrows indicate a change from the previous month. One arrow indicates that no change occurred.
Positive/Strengthening Negative/Weakening Financial Market Impact
Disposable Personal Income/Wages
Monetary Policy U.S. Economic Outlook Consumer Sentiment Yield Curve
Housing/Mortgages Labor Market Interest Rates Consumer Spending Fiscal Policy
Political Environment Leading Indexes Corporate Profit Growth
Business Outlook Spending/Surveys
Global Economic Outlook
Geopolitical Risk Energy Cost Impact Inflation Credit Demand/Availability
Equity Market Valuation
2
Economic and Financial Indicators
City National Rochdale Indicators show widespread strength and continue to signal modest U.S. economic growth ahead.
Source: City National Rochdale. As of June 2017.
ECONOMIC AND FINANCIAL INDICATORS
Indicators Are Forward-Looking Three to Six Months
Speedometer color indicates the magnitude of the impact on economic financial markets. The arrow signifies the directional change in the indicator. Two arrows indicate a change from the previous month. One arrow indicates that no change occurred.
Positive/Strengthening Negative/Weakening Financial Market Impact
Disposable Personal Income/Wages
Monetary Policy U.S. Economic Outlook Consumer Sentiment Yield Curve
Housing/Mortgages Labor Market Interest Rates Consumer Spending Fiscal Policy
Political Environment Leading Indexes Corporate Profit Growth
Business Outlook Spending/Surveys
Global Economic Outlook
Geopolitical Risk Energy Cost Impact Inflation Credit Demand/Availability
Equity Market Valuation
2
City National Rochdale indicators show widespread strength and continue to signal modest U.S. economic growth ahead.
Source: City National Rochdale. As of July 2017.
ECONOMIC AND FINANCIAL INDICATORS
Economic and Financial Indicators - July 2017Indicators Are Forward-Looking Three to Six Months
Speedometer color indicates the magnitude of the impact on economic financial markets. The arrow signifies the directional change in the indicator. Two arrows indicate a change from the previous month. One arrow indicates that no change occurred.
Positive/Strengthening Negative/Weakening Financial Market Impact
Disposable Personal Income/Wages
Monetary Policy U.S. Economic Outlook Consumer Sentiment Yield Curve
Housing/Mortgages Labor Market Interest Rates Consumer Spending Fiscal Policy
Political Environment Leading Indexes Corporate Profit Growth
Business Outlook Spending/Surveys
Global Economic Outlook
Geopolitical Risk Energy Cost Impact Inflation Credit Demand/Availability
Equity Market Valuation
2
City National Rochdale indicators show widespread strength and continue to signal modest U.S. economic growth ahead.
Source: City National Rochdale. As of August 2017.
ECONOMIC AND FINANCIAL INDICATORS
Economic and Financial Indicators - August 2017 Indicators Are Forward-Looking Three to Six Months
Speedometer color indicates the magnitude of the impact on economic financial markets. The arrow signifies the directional change in the indicator. Two arrows indicate a change from the previous month. One arrow indicates that no change occurred.
Positive/Strengthening Negative/Weakening Financial Market Impact
Disposable Personal Income/Wages
Monetary Policy U.S. Economic Outlook Consumer Sentiment Yield Curve
Housing/Mortgages Labor Market Interest Rates Consumer Spending Fiscal Policy
Political Environment Leading Indexes Corporate Profit Growth
Business Outlook Spending/Surveys
Global Economic Outlook
Geopolitical Risk Energy Cost Impact Inflation Credit Demand/Availability
Equity Market Valuation
2
Economic and Financial Indicators
City National Rochdale indicators show widespread strength and continue to signal modest U.S. economic growth ahead.
Source: City National Rochdale. As of September 2017.
ECONOMIC AND FINANCIAL INDICATORS
Indicators Are Forward-Looking Three to Six Months
Speedometer color indicates the magnitude of the impact on economic financial markets. The arrow signifies the directional change in the indicator. Two arrows indicate a change from the previous month. One arrow indicates that no change occurred.
Positive/Strengthening Negative/WeakeningFinancial Market Impact
Disposable Personal Income/Wages
Monetary Policy U.S. Economic Outlook Consumer SentimentYield Curve
Housing/Mortgages Labor Market Interest RatesConsumer Spending Fiscal Policy
Political EnvironmentLeading Indexes Corporate Profit Growth
Business Outlook Spending/Surveys
Global Economic Outlook
Geopolitical RiskEnergy Cost ImpactInflation Credit Demand/Availability
Equity Market Valuation
2
City National Rochdale indicators show widespread strength and continue to signal modest U.S. economic growth ahead.
Source: City National Rochdale. As of September 2017.
ECONOMIC AND FINANCIAL INDICATORS
Economic and Financial Indicators - September, 2017Indicators Are Forward-Looking Three to Six Months
Speedometer color indicates the magnitude of the impact on economic financial markets. The arrow signifies the directional change in the indicator. Two arrows indicate a change from the previous month. One arrow indicates that no change occurred.
Positive/Strengthening Negative/WeakeningFinancial Market Impact
Disposable Personal Income/Wages
Monetary Policy U.S. Economic Outlook Consumer SentimentYield Curve
Housing/Mortgages Labor Market Interest RatesConsumer Spending Fiscal Policy
Political EnvironmentLeading Indexes Corporate Profit Growth
Business Outlook Spending/Surveys
Global Economic Outlook
Geopolitical RiskEnergy Cost ImpactInflation Credit Demand/Availability
Equity Market Valuation
Economic and Financial Indicators - October, 2017
City National Rochdale
indicators show
widespread strength
and continue to signal
modest U.S. economic
growth ahead.
Source: City National Rochdale. As of October 2017.
ECONOMIC OUTLOOK
Indicators Are Forward-Looking Three to Six Months
Speedometer color indicates the magnitude of the impact on economic financial markets. The arrow signifies the directional change
in the indicator. Two arrows indicate a change from the previous month. One arrow indicates that no change occurred.
Positive/Strengthening Negative/Weakening
Financial Market Impact
Disposable Personal
Income/Wages
Monetary Policy U.S. Economic Outlook Consumer SentimentYield Curve
Housing/Mortgages Labor Market Interest RatesConsumer Spending Fiscal Policy
Political EnvironmentLeading Indexes Corporate Profit
Growth
Business Outlook
Spending/Surveys
Global Economic
Outlook
Geopolitical RiskEnergy Cost ImpactInflation Credit
Demand/Availability
Equity Market Valuation
20
3
IMPORTANT DISCLOSURES
The information presented does not involve the rendering of personalized investment, financial, legal or tax advice. This presentation is not an offer to buy or sell, or a solicitation of any offer to buy or sell any of the securities mentioned herein.
Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results and are based primarily upon a hypothetical set of assumptions applied to certain historical financial information. Certain information has been provided by third-party sources and, although believed to be reliable, it has not been independently verified and its accuracy or completeness cannot be guaranteed.
Any opinions, projections, forecasts, and forward-looking statements presented herein are valid as of the date of this document and are subject to change.
The indicators reflect forecasts of a 3 to 6 month time horizon. The colors of each indicator, as well as the direction of the arrows represent our positive/negative/neutral view for each indicator. Thus, arrows directed towards the (+) sign represents a positive view which in turn makes it green. Arrows directed towards the (-) sign represents a negative view which in turn makes it red. Arrows that land in the middle of the indicator, in line with the (0), represents a neutral view which in turn makes it yellow. All of these indicators combined affect City National Rochdale’s overall outlook of the economy.