Stock valuations in developed-international markets are quite a bit lower than those in the United States. However, peel back the onion and you will find that the MSCI EAFE Index--the benchmark for developed international equities primarily composed of European and Japanese stocks--actually appears closer to fairly valued than underpriced due to different sector and profitability profiles. (LPL Research)
Morgan Stanley’s rich clients pulled about $10 billion of outflows from their accounts last quarter the likely culprit: Under the Trump administration’s 2017 tax reform, the deduction for state income, sales and property taxes was capped at $10,000. That has widely been perceived as causing higher taxes for people living in New York, New Jersey and California. (CNBC)
Anheuser-Busch InBev is contemplating selling off business units in South Korea, Australia and Central America. AB InBev called off the initial public offering of its Asian business on Friday (Wall Street Journal)
The House passed a bill to hike the federal minimum wage to $15 per hour. It would index further hikes to median wage growth. It would also phase out lower minimum wage paid to tipped workers. (CNBC)
With Northwest Quadrant Wealth Management on Troy Reinhart.