Dear friends of Arcus Capital Partners,
We hope this letter finds you well. As we enter the final innings of 2018, global growth remains above trend but with a number of divergences across developed and emerging markets. During the quarter, domestic equities made fresh all-time highs, while international developed and emerging market stocks struggled. Bond prices fell due to rising interest rates linked to Federal Reserve (Fed) rate hikes and robust domestic growth. Finally, commodities retraced much of their recent gains as the US dollar strengthened and fears of a potential global economic slowdown took hold.