There was no shortage of events and issues to distract investors during the third quarter. North Korea continued to launch missiles (15 year to date) in defiance of the international community, and three major hurricanes caused hundreds of billions of damage in the U.S. and Caribbean. In addition, the FBI investigation into Russian influence in the election heated up, there were numerous high level resignations/firings in the Trump administration, and the Republican controlled Congress failed to repeal and replace the Affordable Care Act legislation, twice.
Meanwhile, market volatility remained low and with the exception of MLPs, valuations continued to grind higher.
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