The Morning View: February 13, 2020

BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager

Announced this morning, the Consumer Price Index increased 0.1% in January and 2.5% on an annual basis. The core index, which excludes food and energy prices, increased 0.2% for January and 2.3% on an annual basis. Overall, inflationary pressures remain tame and not showing signs of growing out of control. While the core index is slightly above the 2% inflation target set by the Federal Reserve, other inflation measures remain below that level, such as the PCE Deflator at 1.6% growth on an annual basis. Given this data, the Federal Reserve is likely to remain  accommodative in the months ahead. In all, bond yields ticked lower following this morning’s data and equity futures are lower heading into the market open.

This material is intended to be for informational purposes only and is intended for current or prospective clients of Argent Trust Company. This information is obtained from sources believed to be reliable, and its accuracy and completeness are not guaranteed. Information does not constitute a recommendation of any investment strategy, is not intended as investment advice and does not take into account all the circumstances of each investor. Forward‐looking assumptions are Argent Trust Company’s current estimates or expectations of future events or future results based on proprietary research and should not be construed as an estimate or promise of results that a portfolio may achieve. Actual results could differ materially from the results indicated by this information. Investments can go down as well as up. Past performance is not a reliable indicator of future results.