The US economy has been looking moderately stronger lately, but worries about slow growth for the long run endure—a topic I dig into in my latest article for Financial Advisor. According to some economists, the US is destined for deceleration relative to its historical economic record. If true, the headwinds for money management and earning a risk premium may be set to blow a bit harder… perhaps much harder. As a result, financial advisors (and investors generally) may be inclined (forced?) to assume more risk in their portfolio strategies to compensate for a lesser tailwind in the macro trend.

October was an unusually volatile month for most of the world’s markets relative to recent history, but when the dust cleared there were several winners. US REITs, in particular, ended the month with a hefty gain. In fact, the MSCI REIT Index’s 10% surge in October is the biggest monthly advance in four years. Otherwise, October’s gains were less spectacular, albeit decent. US stocks (Russell 3000), for instance, closed out the month with a respectable 2.7% increase.
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● German Manufacturing Returns To Positive Zone | RTT
● French Manufacturing Continues To Contract In October | RTT
● UK Factory Growth Unexpectedly Accelerates | Bloomberg
● China Oct PMIs point to cooling economic momentum | Reuters
● A Fed insider explains why the central bank is making a big mistake | Vox