Monthly Note

Hello,

I hope everyone enjoyed their Memorial Day. Catie, the kids, and I had a great weekend. Weather in Idaho was fantastic, but I understand some other parts of the US weren’t so lucky.

The country seems to be moving at an incredible pace reopening. After so long with bad coronavirus news, the quick turnaround is very welcome. There are parts of the world that are still very much struggling with the situation, but the US seems to be on the right track. Throughout this crisis I’ve always said that the world was expecting to be turning the corner by summer of 2021 and if that didn’t happen we’d be in trouble. We seem to be moving that direction, so much of the growth and optimism we’ve seen in the markets may stick around. The cooling off of the markets over the last 2 months is a good sign. A world and markets that look a little bit more “normal” will be welcome.

Tax season is behind everyone and the big question looming for markets is the federal spending plan this year and inflation. The “experts” are all over the place on predictions for where the dollar is headed. I wish I could provide better guidance and easier answers, but I’m not a macro economist and if the experts can’t figure it out, I have no hope. Although I do genuinely worry about the fiscal policies of both the last presidency and the current presidency, I try to tune out the sensationalized news. All things considered, the US and the economy are in a pretty good place. As for what the rest of the year will bring... I’ll tell you in January 2022.

I’m headed to an out of state wedding for this weekend but will be around and in the office for the rest of June. I will be in the area all summer, with lots of visitors. This fall I plan on resuming my travel to see out of state clients, which I am looking forward to.

Opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. Because of their narrow focus, investments concentrated in certain sectors or industries will be subject to greater volatility and specific risks compared with investing more broadly across many sectors, industries and companies. Rebalancing a portfolio may cause investors to incur tax liabilities and/or transaction costs and does not assure a profit or protect against loss.