Key Takeaways

• The S&P 500 is off its high on heightened trade tensions, a lower than expected Fed rate cut, and a series of negative headlines in August.
• Bonds have posted strong returns this year as negative-yielding debt balloons to $15 trillion.
• Despite escalation, the U.S. remains relatively insulated from global trade. Investors should brace themselves for lower market returns, elevated volatility and remain disciplined relative to their long-term goals.

Read more here