In an interesting observation on the juxtaposition between the economy and lending, Transwestern chief investment officer Tom McNearney outlines positive economic fundamentals but warns that tensions remain regarding government funding and borrowing. The US economy has enjoyed a stable, long-term growth track, yet remains vulnerable to federal dysfunction or aggressive Fed moves, McNearney says in the latest edition of the BRIEFING.

“In September, the possibility of another government shutdown and default disrupted pricing of short-term securities under looming deadlines, and this is an issue that will need to be revisited before the new deadline of December 8,” said McNearney. “Meanwhile, the markets continue to prosper despite dysfunction in Washington, underscoring that the primary economic risk today is geopolitical.”—Lisa Brown

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