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DON’T FEAR HEADLINES, FEAR RATES



don't fear the headlines
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The third quarter was ripe with catastrophe. Hurricane Harvey and Irma made landfall causing significant destruction to Texas and Florida, the second and fourth largest contributors to U.S. GDP. Meanwhile, Kim Jung Un’s continued provocations, including underground nuclear tests and an array of ballistic missile launches over Japan, temporarily roiled international markets. Equity markets remained buoyant, and treasuries garnered their typical flight-to-quality bid as rates fell to their lows for the year.

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