During the month of July, U.S. stocks continued to move higher on better-than-expected earnings and anticipation of loosening monetary policy that culminated in a 0.25% rate cut at the end of the month.
Foreign stocks dipped as the probability of a “No Deal Brexit” increased with the election of Boris Johnson as the Prime Minister of the United Kingdom.
Also during July, bonds had another strong positive month as the predicted rate cut continued and was eventually enacted on the last day of the month.
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