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Midyear Outlook for 2019

Commerce Brokerage Services Inc

2019 Midyear Outlook

Our midyear Outlook Report provides economic and financial market perspectives for individual and institutional clients.

In this edition, timing is essential and by the time you read this, the U.S. economy may have set an historic record of longevity for an expansion cycle, passing the 10-year mark in duration. Despite this happy occurrence, some economists seem more enamored with predicting when the next recession might be. Yes, there is a reason it’s called the dismal science.

However, we’ve taken a different path in our midyear update. We don’t see a recession on the doorstep despite some recent caution lights that have temporarily flickered. If Australia can have 28 consecutive years of economic prosperity, why can’t the United States expansion climb a little higher? Our message is frankly more upbeat than some others, so we’ve entitled this issue, “The Ascent Continues.”

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The Market Outlook is a special report designed to provide investment information on economic markets for Commerce Brokerage clients. It is intended to provide general information only and is reflective of the opinions of the Commerce Trust Company’s senior investment management committee.

Commerce Trust Company is a division of Commerce Bank. Commerce Brokerage Services, Inc., member FINRA and SIPC, and an SEC registered investment advisor, is a subsidiary of Commerce Bank.

This material is not a recommendation of any particular security, is not based on any particular financial situation or need, and is not intended to replace the advice of a qualified attorney, tax advisor, or investment professional.

Diversification does not guarantee a profit or protect against all risk. Past performance is no guarantee of future results, and the opinions and other information in the Market Outlook are as of June 11, 2019.

Commerce does not provide tax advice or legal advice to customers. Consult a tax specialist regarding tax implications related to any product and specific financial situations.

Mutual funds, annuities, and other investment products:

Not FDIC-insured

May lose value

No bank guarantee

Commerce Brokerage Services, Inc., Member FINRA/SIPC, is a wholly owned subsidiary of Commerce Bank. This site is not intended for use by, or to provide any information to, investors in any state where Commerce Brokerage Services, Inc. is not registered or in any jurisdiction outside the United States of America where such use would be prohibited or otherwise regulated. Nothing on this web site shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

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