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Economic & Market Outlook  

April 2017

Investors remain bullish year to date as both sentiment and improving fundamentals contributed to the recent run-up in equities.

The expectation of business-friendly policies coming from the new administration sparked positive sentiment in the market.

Year to date, the domestic equity indices have posted impressive gains over their fourth quarter closing values.

Domestic large cap stocks continue to outperform small cap stocks. Growth styles are outperforming value styles year to date.

Developed international and emerging market equities outperformed the U.S. markets in March, and appear to have more potential for upside long term based on valuations.

Growth in the gross domestic product (GDP) slowed over the final three months of 2016. The third and final estimate of the fourth-quarter GDP revealed an annual growth rate of 2.1%.

Following its mid-March meeting, the Fed raised interest rates 25 basis points.

The House failed to secure enough support to repeal and replace Obamacare, throwing doubt on the Trump Administration's ability to implement other campaign promises, namely tax cuts and infrastructure spending.

Despite OPEC's agreement to cut production in November, oil prices have remained in the low $50s per barrel based on lower demand and increased U.S. production.

It was an uneventful month in the U.S. bond market with rates remaining virtually unchanged year to date.

  • This information has been compiled using data and other statements of fact derived from sources which we believe to be accurate and reliable. However, such data and other statements of fact have not been verified by us, and we do not make any representations as to their accuracy or completeness. Any opinion expressed herein reflects our judgment at this date and is subject to change.

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