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Q3 2016 Economic & Market Commentary

The third quarter of 2016 ended on a much more positive note than it started. Still reeling from the effects of Britain’s decision to leave the European Union, global investors showed increased demand for the safe haven of U.S. Treasuries, resulting in the 10-year U.S. Treasury yield hitting a record low on July 6th. Bearish investor sentiment, however, quickly abated as positive U.S. economic data, combined with broader acceptance of a “lower for longer” interest rate environment, drove stock returns higher.