Dear friends of Arcus Capital Partners,
We hope this letter finds you well and that you are enjoying your summer. After an impressive start to 2019, global equities digested their early gains before moving higher during the quarter. At the same time, fears over slowing economic growth, additional easing from central banks, and little progress on a US-China trade front sent interest rates lower. Commodities were mixed as cyclical areas declined while gold rallied. Overall, the second quarter saw an uptick in volatility compared to Q1; nonetheless, global growth may be reaching an inflection point and should set the stage for a very interesting second half of the year.