Introduction

The mid-year financial market update is a crucial tool for investors and financial professionals to reassess their strategies and make informed decisions in a rapidly changing market landscape. This comprehensive update provides an in-depth analysis of various aspects of the financial market, including M&A industry trends, investment outlook, digital health market update, and market outlook for stocks, inflation, and the economy.

In the first half of 2024, the financial markets experienced significant fluctuations driven by economic shifts, geopolitical events, and technological advancements. The fluctuating M&A activity, transformative AI, low-carbon transition, and unprecedented funding in digital health have all contributed to the evolving landscape.

In this post, we will delve into:

1. 1. The performance of major indices such as S&P 500, DJIA, and Nasdaq Composite

2. Sector-specific performances including technology, healthcare, energy, financials, and consumer discretionary sectors

3. Sector rotation and the broadening of the market’s performance beyond the Magnificent 7 to small and mid-cap stocks

4. The dynamics of mid-cap and small-cap stocks

5. The bear market in bonds

6. Key drivers influencing their performances

1. 7. Outlook for the remainder of the year

In the first half of 2024, the financial markets experienced significant fluctuations driven by economic shifts, geopolitical events, and technological advancements. There have been a number of influences on them, whether economic or geopolitical, that we need to examine. This post aims to examine both the markets and those influence to lead us into an investment strategy for the remainder of 2024.

Please note that words in green in this post are links to additional information you may find interesting.

1. Performance of Major Indices in 2024

The performance of major indices in 2024 has been closely watched as a way to gauge the overall state and direction of the financial markets. Investors and analysts have paid particular attention to how the S&P 500, DJIA, and Nasdaq Composite have performed year-to-date (YTD).

Overview of Major Indices’ Performances

The primary stock market indices, namely the S&P 500, Dow Jones Industrial Average (DJIA), and Nasdaq Composite, have shown varied performances so far in 2024.

Nasdaq Composite: The Nasdaq Composite has outperformed the other indices, driven by the enduring strength of technology stocks. Despite regulatory challenges and supply chain issues, the tech sector has shown resilience, pushing the Nasdaq up by 18% year-to-date.

S&P 500: The S&P 500 has registered moderate gains, largely propelled by the technology and healthcare sectors. However, volatility remains high, with investor sentiment swaying in response to economic data and geopolitical developments. By mid-2024, the S&P 500 has risen approximately 14.5% year-to-date, reflecting cautious optimism.

Dow Jones Industrial Average (DJIA): The DJIA’s growth has been slower compared to the S&P 500, hindered by weaker performances in the industrial and consumer discretionary sectors. Gains in financials and energy have provided some support, bringing the DJIA up about 4% year-to-date.

1. Performance of Major Indices in 2024

The performance of major indices in 2024 has been closely watched as a way to gauge the overall state and direction of the financial markets. Investors and analysts have paid particular attention to how the S&P 500, DJIA, and Nasdaq Composite have performed year-to-date (YTD).

Overview of Major Indices’ Performances

The S&P 500 represents a wide range of large-cap U.S. stocks and has shown consistent growth throughout the year. In contrast, the DJIA, consisting of 30 significant stocks, has followed its own distinct path. Meanwhile, the Nasdaq Composite, which is heavily focused on technology companies, has seen its share of ups and downs.

YTD Performance Comparison

A comparison of their YTD performances reveals that each index has reacted differently to various market conditions and external factors. The S&P 500 may have consistently risen, while the DJIA could have experienced more volatility. Similarly, the performance of the Nasdaq Composite might reflect both the dynamics within the tech sector and overall market sentiment.

Analysis of Factors Driving Performance

Multiple factors have played a role in influencing how these major indices have performed. These include:

• Market sentiment – The prevailing market sentiment, influenced by factors such as investor confidence and risk appetite, has had a significant impact on the performance of these indices.
• Economic indicators – Economic indicators, such as GDP growth, inflation rates, and unemployment figures, have also shaped market dynamics and consequently affected the indices’ trajectories.
• Corporate earnings reports – Corporate earnings reports have been closely monitored, as they provide insights into the financial health and profitability of major companies within these indices.
• Geopolitical events – Geopolitical events, such as trade disputes or political instability, can introduce volatility into the markets and subsequently impact index performance.
• Monetary policy decisions – Monetary policy decisions made by central banks have played a crucial role in shaping market conditions through interest rate adjustments and other measures.

Understanding these drivers is crucial for gaining insights into broader market trends and making informed investment decisions. Additionally, the performance of these indices can often provide a glimpse into the overall health of the economy.

For example, strong performance across all three indices might suggest a robust and thriving market, while a decline in one or more indices could indicate potential challenges or uncertainties. As we move forward into the remainder of 2024, keeping an eye on these major indices and analyzing the factors behind their performance will be key in navigating the ever-changing landscape of the financial markets.

2. Sector Performance

2.1 Technology Sector

The technology sector has shown impressive performance in 2024, becoming a major influencer of the financial markets. Here are some key reasons behind the technology sector’s success:

• Resilience and Growth: Despite facing challenges like supply chain disruptions and geopolitical tensions, the technology sector has stayed strong and continued to grow. This is because more and more industries are relying on digital solutions, creating a higher demand for tech products and services.
• AI Advancements: Artificial Intelligence (AI) remains a game-changer in the technology sector. Companies that use AI technologies have seen improvements in their operations, personalized experiences for customers, and innovative product creation.
• Cloud Computing Expansion: The use of cloud computing solutions has skyrocketed due to the need for flexible infrastructure, remote work capabilities, and cost savings. As a result, cloud service providers have experienced a huge increase in demand for their services.
• Semiconductor Industry Dynamics: The semiconductor sector has played a crucial role in driving global technological advancements. With more applications in areas like 5G networks, electric vehicles, and IoT devices, semiconductor companies have consistently performed well thanks to high demand.

The growth factors mentioned above – AI, cloud computing, and semiconductors – have all contributed to the technology sector’s success and its significant influence on the financial market landscape.

2.2 Healthcare Sector

The healthcare sector has been a notable performer in 2024, driven by various factors that have contributed to its growth and resilience. Here are some key highlights of the healthcare sector’s performance:

1. Biotech: The biotechnology industry has experienced significant advancements and breakthroughs, leading to increased investor interest and positive market performance. Biotech companies have been at the forefront of developing innovative therapies and treatments for various diseases, including rare genetic disorders and cancer. This has not only improved patient outcomes but also created lucrative investment opportunities in the sector.
2. Pharmaceuticals: Pharmaceutical companies have continued to play a crucial role in the healthcare sector, especially in the development and distribution of COVID-19 vaccines and therapeutics. The demand for pharmaceutical products remains strong, driven by an aging population, rising chronic disease prevalence, and ongoing research and development efforts. The pharmaceutical sector’s steady growth has attracted investors seeking stable returns and long-term value.
3. Telehealth: The pandemic accelerated the adoption of telehealth services, revolutionizing the way healthcare is delivered. Telehealth platforms have provided convenient access to medical professionals, remote consultations, and digital health monitoring tools. This trend has not only improved patient care but also created new investment opportunities in telehealth technology companies.

The growth of the healthcare sector can be attributed to its ability to address critical societal needs while showcasing innovation and resilience. As technology continues to advance, we can expect further developments in areas such as precision medicine, gene therapy, and digital health solutions.

Overall, the healthcare sector’s performance reflects its importance in society and the potential for continued growth in the future. Investors looking for long-term stability and opportunities in a rapidly evolving industry should consider exploring investments within the healthcare sector.

2.3 Energy Sector

The energy sector has seen significant developments in 2024, driven by various factors influencing its performance. Here are some key highlights and insights into the industry’s performance:

Performance Analysis of Energy Sector

The energy sector has experienced notable shifts in response to higher oil prices and the growing demand for renewable energy sources. These changes have reshaped the landscape of the industry, impacting both traditional and alternative energy companies.

Impact of Higher Oil Prices

• The surge in oil prices has led to increased revenues for oil companies, positively influencing their stock performances.
• However, it has also raised concerns about inflation and its potential impact on consumer spending and overall economic stability.

Increasing Demand for Renewable Energy

• The rising global focus on sustainability and environmental responsibility has driven an increase in demand for renewable energy sources.
• This trend has created growth opportunities for companies involved in renewable energy production, such as solar, wind, and hydroelectric power.
• It has also prompted traditional energy companies to diversify their portfolios by investing in renewable energy projects.

Shift towards Clean Energy Policies

• Governments around the world are implementing clean energy policies to reduce carbon emissions and combat climate change.
• These policies include incentives for the development and adoption of renewable energy technologies.
• As a result, there is a growing market for clean energy solutions, driving innovation and investment in areas such as battery storage, smart grid technology, and electric vehicles.

Investment Opportunities

• The changing dynamics in the energy sector have opened up new investment opportunities.
• Investors are increasingly looking for sustainable investments that align with environmental goals.
• Renewable energy companies and technologies are attracting significant attention from investors seeking long-term growth potential.

Challenges for Traditional Energy Companies

• Traditional fossil fuel-based energy companies face challenges in adapting to the changing landscape.
• Traditional energy will be dominant for several years into the future as technology behind alternative forms continues to advance.
• In the near term, Nuclear energy will grow into a major source of power generation, particularly in areas that have significant AI Data Centers.
• Over the long term, they must balance their existing operations with investments in nuclear and renewable energy to remain competitive and meet regulatory requirements.
• The transition to cleaner energy sources may require significant capital investments and changes in business models.

Overall, the performance of the energy sector reflects its adaptability to market trends and societal demands. Investors considering opportunities within the energy sector should closely monitor the impact of higher oil prices and the growth of renewable energy, as well as the regulatory landscape and technological advancements shaping the industry’s future.

2.4 Financials Sector

The financials sector has weathered 2024 fairly well:

1. Impact of Interest Rates – The sector’s ability to adjust to changes in interest rates and economic dynamics has positioned it as a stable contributor to overall market performance. Despite higher interest rates, the financials sector has shown resilience and adaptability in navigating the changing market conditions. This can be attributed to several factors, including the diverse range of services offered by financial institutions, such as banking, insurance, and asset management.
2. Regulatory Shifts – The sector’s focus on risk management and capital adequacy has served as a cushion against potential shocks. Regulatory shifts have also played a significant role in shaping the performance of the financials sector. The tightening of regulations post-global financial crisis has enhanced transparency and stability within the industry, but it has also increased compliance costs for firms. Going forward, continued vigilance will be necessary to ensure that regulatory measures strike an appropriate balance between risk mitigation and supporting growth within the sector.

2.5 Consumer Discretionary Sector

The consumer discretionary sector in 2024 has had mixed results, primarily due to inflation and spending concerns. Here are the main points about how the sector has performed:

• Performance has been up and down because of inflation and worries about how much consumers are spending
• Different companies in the sector have had varying outcomes, reflecting consumer sentiment and overall economic conditions
• Inflation has significantly impacted consumers’ purchasing power and altered their spending habits

The consumer discretionary sector encompasses various industries such as retail, automotive, leisure, and entertainment. This sector thrives when consumers are confident and the economy is stable. However, in 2024, it has experienced shifts in consumer preferences and behavior due to inflation.

The concern over inflation has forced consumers to alter their shopping patterns, thereby affecting companies within this sector differently. While some have successfully adapted to these changing demands, others have struggled to sustain growth and profitability.

The performance of this sector serves as a barometer for the overall economy, shedding light on consumer sentiment and expenditure trends. Given the current significance of inflation in shaping market dynamics, investors seeking insights into market conditions must closely monitor how well companies in the consumer discretionary sector navigate challenging times and adapt to evolving consumer needs. To gain a deeper understanding of the US consumer landscape that influences this sector’s performance, it is worth exploring the state of the US consumer.

3. Sector Rotation and Market Broadening

The financial market landscape has been witnessing a significant shift from tech giants to growth sectors such as industrials and consumer discretionary. This sector rotation indicates a broader market trend where investors are diversifying their portfolios and seeking new opportunities beyond the technology sector. Let’s delve into this topic further:

Shift from Tech Giants

The dominance of tech giants in the past few years has been remarkable, driving market performance and capturing investors’ attention. However, as the market evolves, we are witnessing a rotation away from these tech giants towards other sectors that offer potential for growth and value. This shift is driven by various factors, including concerns about valuations and regulatory scrutiny.

Growing Interest in Industrials

The industrials sector has emerged as an attractive area for investors looking beyond technology. This sector encompasses companies involved in manufacturing, infrastructure, transportation, and more. The increasing focus on infrastructure development, sustainable initiatives, and economic recovery has fueled interest in industrial stocks. Investors are drawn to companies that stand to benefit from government spending on infrastructure projects and the potential for increased demand as the global economy recovers.

Emphasis on Consumer Discretionary

Another sector experiencing heightened investor interest is consumer discretionary. This sector includes companies that cater to consumer preferences and non-essential goods and services. Despite concerns about inflation and spending constraints, certain segments within consumer discretionary have shown resilience and growth potential. Companies offering innovative products, unique experiences, or catering to changing consumer habits have been able to capture market share.

The market broadening trend reflects a desire among investors to diversify their portfolios and explore new investment opportunities beyond the technology sector. It indicates a recognition of the potential for growth in other sectors as well as a cautious approach towards concentration risk.

By understanding these shifts in sector rotation and market broadening, investors can make informed decisions and adjust their investment strategies accordingly. It is essential to stay updated with market trends, evaluate sector performances, and identify companies with strong fundamentals and growth prospects.

4. Mid-Cap and Small-Cap Stocks

4.1 Mid-Cap Stocks

Mid-cap stocks have market capitalizations generally ranging from $2 billion to $10 billion. They offer a balance of growth potential and stability within various sectors such as industrials, technology, and healthcare. These stocks often represent companies that have already experienced significant growth and success but still have room for expansion.

Here’s an in-depth look at the dynamics of mid-cap stocks within different sectors:

Industrials

In the industrials sector, there are several top mid-cap stocks that present an intriguing investment opportunity. These companies often operate in niche markets and exhibit a strong potential for growth due to their agility and innovative solutions. Their mid-sized market capitalization allows for a balance between stability and growth potential, making them attractive to investors seeking opportunities beyond large-cap stocks.

Technology

Mid-cap technology stocks are known for their innovation and ability to capitalize on emerging trends. These companies are often positioned to benefit from technological advancements without shouldering the same level of risk associated with small-cap firms. Investors are drawn to mid-cap technology stocks for their potential to deliver robust returns while maintaining a level of stability compared to smaller, less established players in the industry.

Healthcare

Within the healthcare sector, mid-cap stocks play a crucial role in driving innovation and expanding medical breakthroughs. These companies can offer compelling growth prospects while mitigating some of the risks associated with smaller biotech firms. With market capitalizations that allow for flexibility and expansion, mid-cap healthcare stocks are well-positioned to capitalize on evolving healthcare trends and technological advancements.

By carefully analyzing the specific factors influencing mid-cap stocks within each sector, investors can identify promising opportunities that align with their risk tolerance and investment objectives.

The next section will delve into the distinct characteristics of small-cap stocks and explore their potential impact on investment portfolios.

4.2 Small-Cap Stocks

Small-cap stocks are important for diversifying investment portfolios and can provide great opportunities for growth. Here are some key points to consider:

• Volatility and Growth Opportunities: Small-cap stocks tend to be more volatile than large-cap and mid-cap stocks. This means they can be risky, but also offer the potential for high returns.
• Technology, Biotech, and Consumer Discretionary Sectors: Small-cap stocks in the technology sector often represent innovative and disruptive companies with significant growth potential. Similarly, small-cap biotech firms may offer promising research pipelines and drug development prospects. In the consumer discretionary sector, small-cap companies may be positioned for rapid growth based on changing consumer trends and preferences.

By understanding these specific characteristics of small-cap stocks in different sectors, investors can spot emerging trends and potential investment opportunities that match their risk tolerance and overall portfolio goals.

5. The Bond Market

The bond market has been significantly influenced by the current economic environment, including rising interest rates, inflation, and central bank policies. The Bond Market has experienced its worst bear market in 40 years. This downturn has been a cause for concern among investors and analysts alike. The bond market is an important component of the overall financial market, as it provides a means for companies and governments to raise capital by issuing bonds to investors.

The recent decline in the bond market that began with the Federal Reserve’s tightening monetary policy can be attributed to several factors. One of the main drivers of this bear market is rising interest rates. As interest rates increase, the value of existing bonds decreases, leading to a sell-off in the bond market. Additionally, concerns about inflation and economic growth have also contributed to the negative sentiment surrounding bonds.

Fixed-income mutual funds can be more volatile than you might expect during a bond bear market. Investors who purchased bond mutual funds for income generation back when yields on CD’s and Treasury Bonds were nearly zero now have huge capital losses that they may never recover.

Investors have been reallocating their investments away from bonds and towards other asset classes, such as equities. This shift in investment preferences has further exacerbated the bear market in bonds.

It is important to note that while the bond market has been experiencing a downturn, it does not mean that all fixed-income investments are performing poorly. Portfolios of laddered CDs and Treasury Bonds have performed very nicely, preserving investors’ capital and increase their income generation as older CDs and bonds mature to be reinvested as significantly higher interest rates.

Here’s a closer look at how various factors are impacting the bond market in 2024:

• Interest Rates: Rising interest rates have had a profound impact on the bond market. As central banks, including the Federal Reserve, have increased rates to combat inflation, bond prices have generally fallen. This is because higher interest rates make existing bonds with lower yields less attractive to investors, leading to a decline in their prices.
• Inflation: Persistent inflation has eroded the real returns on bonds, particularly those with fixed interest rates. Investors have shown increased interest in inflation-protected securities, such as Treasury Inflation-Protected Securities (TIPS), which offer a hedge against rising prices.
• Yield Curve: The yield curve has experienced fluctuations, with short-term yields rising more sharply than long-term yields. This has led to periods of yield curve inversion, which historically signals potential economic slowdowns. Investors are closely monitoring these movements as indicators of future economic conditions.
• Credit Market: In the corporate bond market, credit spreads have widened, reflecting concerns about economic stability and corporate earnings. Companies with stronger balance sheets and higher credit ratings have continued to attract investors, while lower-rated issuers have faced increased scrutiny.
• Municipal Bonds: The municipal bond market has seen steady demand, driven by favorable tax treatments and the search for stable, long-term income. However, concerns about state and local government finances amid economic uncertainties have added some caution to this market segment.

Commodity Markets: Materials, Gold & Silver, and Oil

The commodity markets have also experienced significant movements in 2024, reflecting broader economic and geopolitical trends. Here’s a detailed look at the performance and influences on materials, gold & silver, and oil:

Materials

The materials sector has seen fluctuations driven by global supply chain disruptions and varying demand across the construction, manufacturing, and technology sectors. Prices for key materials like copper, steel, and aluminum have been volatile, reflecting broader economic trends. Increased infrastructure spending and technological advancements in renewable energy have bolstered demand, while geopolitical tensions and trade disputes have added to price instability.

Gold and Silver

Gold and silver, often seen as safe-haven assets, have been influenced by market volatility, inflation concerns, and geopolitical tensions. As investors seek stability, these precious metals have seen gains, reflecting their role as hedges against uncertainty. Additionally, now that the prospect for lower interest rates is nearing, gold has been moving higher in price, reaching an all-time-high price this week. Silver has benefited from similar needs for portfolio hedges against uncertainty, but it has also seen increased demand from the technology sector as it is used in many high tech applications.

Oil

Oil prices have been driven higher by geopolitical events, particularly conflicts and supply chain disruptions. The energy sector’s rebound has been supported by increased demand as economies recover from the pandemic, coupled with supply constraints.

• Geopolitical Influences: The Russia-Ukraine conflict and tensions in the Middle East have significantly impacted oil supply chains, leading to higher prices. Sanctions on Russia and production cuts by major oil producers have further tightened supply.
• Economic Recovery: As global economies reopen and industrial activities resume, oil demand has surged. This increased demand, alongside supply constraints, has led to higher oil prices, benefiting the energy sector but also contributing to inflationary pressures.

6. Key Drivers of Mid-Cap/Small-Cap Performance

Factors influencing the performance of mid-cap and small-cap stocks include:

1. Interest Rates: Fluctuations in interest rates can significantly impact the performance of mid-cap and small-cap stocks. When interest rates are low, these stocks may experience increased demand as investors seek higher returns. Conversely, rising interest rates can lead to decreased investment in mid-cap and small-cap companies as borrowing costs increase.
2. Innovation: The ability of mid-cap and small-cap companies to innovate and adapt to changing market dynamics plays a crucial role in their performance. Companies that can capitalize on emerging trends and technological advancements within niche markets often experience growth opportunities that positively impact their stock performance.
3. Acquisition Targets: Mid-cap and small-cap companies are often attractive targets for larger corporations seeking acquisition opportunities. The potential for acquisition can drive stock prices upward, providing an additional avenue for generating value for investors.
4. Diversification Benefits: Including mid-cap and small-cap stocks in a diversified investment portfolio can offer potential benefits such as reduced correlation to large-cap stocks, enhancing overall portfolio risk management.

These key drivers collectively contribute to the unique performance characteristics of mid-cap and small-cap stocks, making them an important consideration for investors seeking to optimize their investment strategies.

7. Outlook for 2024

Expectations for continued sector rotation and market broadening in 2024 due to monetary policy adjustments.

As we look ahead to the remainder of 2024, the financial markets are expected to undergo further changes driven by evolving monetary policies. Here are some key points to consider:

• Sector Rotation: With monetary policy adjustments on the horizon, there is an anticipation of continued sector rotation. Investors may witness shifts in capital allocation as certain sectors gain prominence while others undergo reevaluation.
• Market Broadening: The trend of market broadening is likely to persist as investors seek out opportunities beyond traditional tech giants. This broader approach may lead to increased diversity in investment portfolios and a reshaping of industry dynamics.
• Monetary Policy Adjustments: Any alterations in monetary policies can have far-reaching effects on market behaviors. It’s essential for investors to stay informed about potential policy changes and their impact on various sectors and asset classes.
• Possibility for Economic Slowdown: Factors such as continued high interest rates, global trade tensions, and geopolitical events could contribute to a potential slowdown. It is important for investors to monitor economic indicators and adjust their strategies accordingly.
• Potential for Recession: Alongside the possibility of an economic slowdown, there is also a discussion by economists on the possibility of a recession. Recessions are typically characterized by a significant decline in economic activity and can have a substantial impact on financial markets. Investors should be prepared for potential market volatility and consider diversifying their portfolios to mitigate risk.
• Stock Market Pullback: Additionally, there is talk on investment TV by some commentators of a stock market pullback. These pullbacks can be caused by various factors such as investor sentiment, economic data, or geopolitical events. Today’s discussion centers around high valuations in the stock market and technical analysis and chart patterns showing we have moved significantly away from longer term stock price moving averages. Investors should be aware of the potential for market fluctuations and consider their risk tolerance when making investment decisions. It is important for investors to stay informed about these possibilities and monitor market conditions closely. By staying proactive and adjusting strategies as needed, investors can navigate potential challenges and seize opportunities in the financial markets.

Looking forward, it’s crucial for market participants to adapt their strategies in response to these anticipated developments. Remaining attentive to the evolving landscape will be instrumental in making informed investment decisions.

7. Investment Strategy

The Mid-Year Financial Market Update shows how various factors such as the economy, politics, and technology are influencing the financial markets in 2024. These markets are changing quickly due to shifts in monetary policies, global events, and technological advancements.

As a portfolio manager, we have raised a bit of cash in client accounts as we head toward the volatile September/October timeframe. We have added a number of small and mid-cap companies to portfolios in anticipation of a broadening of the market. Our key to pulling the trigger was the historic gap in performance between large cap and small cap companies – nothing ever goes straight up like the Magnificent 7 have done so far this year, so it is inevitable that they and other highly valued large caps take a breather or pull back some to build a base for their next move higher.

We continue to maintain most client fixed-income portfolios in laddered CDs and Treasury Bonds to protect against the current bond bear market that has devastated many fixed-income mutual funds. We will not know if the bond bear will end with the Federal Reserve’s coming rate cuts or if bond buyers will continue to demand higher yields to fund our governments’ massive debt load ( see previous blog posts at this link and at this link for the first two installments in my series on America’s Debt Crisis – the next two are coming soon ).

We built an exposure to Gold and Gold Mining Companies in client portfolios over the past couple of years and it is now paying off as Gold hit an all-time-high price this week with forecasts for another 25% upside.

We have ample exposure to the AI phenomenon and recently pared back exposure to Nvidia and Super Micro in accounts where it got above policy limits due to explosive growth in those two names.

And finally, we maintain our over-weight position in industrials, oils, and basic materials companies all of which have helped our clients beat their portfolio benchmarks by 5% or more year-to-date.

Overall, our investment strategy remains focused on diversification, risk management, and seizing opportunities presented by market fluctuations. While volatility may increase in the coming months, we are confident in our ability to navigate these challenging times and deliver positive outcomes for our clients

If you are a current client, thank you for your business. If you are a casual reader of this blog and would like to talk to us about managing your portfolio, you can call us at 217-351-2870 and ask to speak with SVP Karen Sharp about opening an investment management account.

Thanks for reading!

Mark