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Monthly Market Overview - September 2018


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US stock indices hit all-time highs in August despite turmoil in the Emerging Markets and the threat of further escalation of trade hostilities with China. Argentina was forced to raise its overnight rate to 60% to defend the currency after a surprise call by President Macri for an accelerated IMF $50BN bailout schedule. The US Treasury yield curve flattened, reflecting the expectation that the Fed will continue to raise short rates in the near-term.

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