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Midyear Investment Update Webcast - Is there an expiration date on the current economic recovery? By Scott Colbert, Joe Williams, Barbara Turley

July 19, 2018

A U.S. economy operating at nearly full employment combined with an overall favorable business climate will continue to drive economic expansion into 2019. What will happen as this expansion continues to progress? As the balance of the year unfolds, we will hear plenty of competing economic media stories, including positive narratives on global growth, continued robust U.S. employment rates, the potential for real wage increases and subdued inflation. Offsetting these favorable influences could be growing international trade friction, continued high equity valuations, more interest rate increases and domestic political struggles culminating in the midterm U.S. elections.

All these factors may make for an interesting financial drama to unfold. Get a handle on what may come in the second half of the year. Commerce Trust Company’s Chief Economist Scott Colbert, CFA, Director of Investment Strategy Joe Williams, CFA, and Director of Investment Research Barbara Turley, CFA, sort out the key influencing forces for all interested clients and their guests in this informative webcast event.


Past performance is no guarantee of future results and the opinions and other information in the Midyear Investment Update Webcast is as of July 19, 2018. The Midyear Investment Update Webcast is a special teleconference designed to provide general information for Commerce Trust Company clients and is reflective of the opinion of the senior investment management committee. Information or data from third parties is considered to be from reliable sources but is not guaranteed. Commerce does not provide tax advice or legal advice to customers. Consult a tax specialist regarding tax implications related to any product and specific financial situations.

Commerce Trust Company is a division of Commerce Bank.



Scott Colbert
Scott M. Colbert, CFA® Executive Vice President, Chief Economist and Director of Fixed Income Management Commerce Trust Company
Scott is the chief economist and director of fixed income management with Commerce Trust Company. He joined Commerce in 1993 and has investment responsibilities for over $19 billion in fixed income assets. Scott directly manages the Commerce Short-Term Government and the flagship Commerce Bond strategies. Scott received his bachelor of science degree in nuclear engineering from the University of Cincinnati in 1986 and received his master of business administration from Xavier University in 1988. He has been both a director and president of the Chartered Financial Analyst Society of St. Louis.


Joe Williams
Joseph C. Williams, III, CFA® Senior Vice President, Director of Investment Strategies Commerce Trust Company
Joe is the director of investment strategies for Commerce Trust Company as well as a senior portfolio manager. Additionally, he serves on the Investment Policy Committee and the Equity Strategy Committee. Joe is the co-manager of the Commerce Growth and Mid-Cap Growth strategy. He has more than 37 years of experience in investment management with Commerce Trust. He received his bachelor of science degree from Drake University and is a member of both the Kansas City Society of Financial Analysts and the CFA Institute. He holds the Chartered Financial Analyst® designation.


Barbara Turley
Barbara S. Turley, CFA® Senior Vice President, Director of Investment Research Commerce Trust Company
Barbara oversees the quantitative and manager research functions of Commerce Trust Company. These groups provide research for asset allocation, manager selection, and performance measurement for institutional and private clients. Barbara was previously employed at Bank of America and its predecessor organizations, where she was most recently vice president and head of the healthcare equity research group. She has more than 20 years of experience in the investment industry in various capacities. Barbara has extensive experience teaching corporate finance and investments at University of Missouri. She also has been interviewed by various financial print and broadcast media. Barbara has a master in business administration degree from Washington University in St. Louis and holds the Chartered Financial Analyst® designation. She is a member of the CFA Institute and the CFA Society of St. Louis.
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