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Knowledge Center

Webinar: 2019 Mid-Year Market & Plan Update

During this webinar, recorded on July 30, David Baskin, Chair of RPB’s Investment Committee and President of Baskin Wealth Management, provides an update on the financial markets and RPB’s Plan performance, along with remarks from Len Teitelbaum, Chair of the RPB Board of Trustees.

Some highlights

U.S. Late Market Business Cycle Dynamics

There's no question that we're late in the business cycle. In the present expansion in the United States has been underway since early 2009 and by most calculations, it's the longest continuous expansion in the last hundred years. Typically in the late part of a business cycle, you see interest rates rising and inflation rising. But in contrast, and as a great surprise to the economists, what we're seeing now is, in fact, very little inflation, lowering interest rates, but we are seeing moderate growth in corporate profits and somewhat moderating confidence in consumers. Nobody knows whether a recession is imminent.

Plan Performance

For the first half of the year, it's a very positive story. We're modestly hopeful going into the second half, certainly we expect to see more volatility and much will depend on how trade talks work out and how corporate earnings are.

Look at our participant portal to see if your investments match your objectives.

Whether you're actively contributing nearing retirement of already retired, everyone should log into our participant portal, to make sure you know which funds you're invested in. How much of your investment portfolio should be invested in stocks, bonds, or cash-based products depends on your tolerance for risk; how long you have to invest your money; and your objectives. While stocks have historically offered the best long-term growth potential, they are more volatile than bonds or cash. The latter's usually considered safer, but have more limited returns.

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