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The Bull LivesDonEdwards web

The stock and bond markets both produced gains during the third quarter as investors continue to be optimistic about the U.S. economy.  Corporate earnings remain strong and inflation remains low.  Both factors combine to produce a good economic environment for the capital markets.

The third quarter was notable for producing two devastating hurricanes, Harvey and Irma.  Combined, these two storms caused an estimated $290 billion in damage to Texas and Florida.  Lost economic activity is likely much more than this.  This is the first time in history that two category 4 or higher hurricanes have hit the U.S. mainland in the same year.  One in every seven cars in the Houston area was destroyed by Harvey and 25% of all homes in the Florida Keys were destroyed by Irma.  The damage done and the lives affected by these two storms is truly remarkable.  We have many clients in both Texas and Florida.  Fortunately, all made it through the storms with no physical injuries and relatively minor property damage.

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