United States

Tax reform and other economic highlights close out 2017


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Fixed income markets were positive during the last month of the year across domestic and international markets.

Following a few delays, both the Senate and the House of Representatives passed the Tax Cuts and Jobs Act in December which was subsequently signed into law by President Trump.

U.S. oil prices hit their highest point since mid-2015 closing above $60 to end the year. This was in part due to a fall in output and a drop in commercial stockpiles.

The Federal Open Market Committee met in December and decided to raise the target range for the federal funds rate by a quarter point to 1.25 to 1.50 percent.

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