Treasury yields fell to their lowest level in 2019, gold prices soared, oil prices fell, trade tensions wore on investors’ nerves, and stocks fell again last week. Mounting trade tensions between the United States and China, an ongoing saga that has lasted for over a year, may have finally pushed investors to abandon stocks for bonds and precious metals such as gold and silver. Each of the benchmark indexes listed here fell over 2.0% for the week, led by the Russell 2000 and the Dow, each falling over 3.0% for the week. More worrisome is the year-to-date totals. Where once the benchmarks were double digits above their 2018 closing values, now several of the indexes are receding closer to their 2019 starting values, with only the Nasdaq still more than 10% ahead of last year’s closing mark. Click here for more: Winthrop Partners weekly update 6-3-19
Thomas Saunders is the Managing Partner of Winthrop Partners. Prior to founding Winthrop Partners, Tom was Senior Vice President at what is now JP Morgan. His career includes senior and executive roles at Brown Brothers Harriman and First Niagara Bank, a top 25 Bank. Click here to contact Thomas Saunders about your investment and planning requirements.