First of all, Happy New Year to you and yours. We appreciate each and every one of you and we rarely get the chance to express that. So, here is to happy, healthy and “Prosperous” 2020!
We begin 2020 with a lot of economic optimism. We have the equtiy market at record highs, low unemployment, a controlled and low interest rate environment, a China trade deal that is becoming closer to reality and a world economy that is showing signs that its slowdown is easing.
But we are not without potential risks.
I think we may be looking at two distinctive halves of 2020. The momentum for the stock market rally and Trump economy should carry through at least mid-2020. Then Wall Street will turn its focus to the outcome of the 2020 election — with the risk of a major U-turn in tax and regulatory policy — and reassess the chances of a new Fed rate-hike cycle.
One thing is for sure, 2020 will prove to be an interesting one to say the least.
Again Happy New Year! We look forward to navigating these uncertain markets with all of you.
FROM SCOTT, CHARLIE, MIKE, PATRICK AND THE REST OF THE PROSPER TEAM!
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