The Clemens McHugh Financial Consulting Group

Global Insight Monthly

Building on a narrow base

Long-term economic trends have left the U.S. economy increasingly reliant on spending by upper-income households. We unpack the potential implications for economic stability and Federal Reserve policymaking.

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The Clemens McHugh Financial Consulting Group

216-372-1974
cynthia.mchugh@rbc.com

Latest Insights

The “Great Narrowing”: S&P 500 concentration

Over the past decade, the S&P 500, which has historically been viewed as a balanced cross-section of the U.S. economy, has slowly transformed into a tech- and AI-dominated index. We believe this “Great Narrowing” should be top of mind for investors.

Cynthia McHugh is currently registered to conduct business with residents of the following states: AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, IL, IN, MA, MD, MI, MN, MT, NC, NJ, NV, NY, OH, OR, PA, SC, TN, TX, UT, VA, WA, WI, WV.

Cynthia McHugh, NMLS # 2419917, Matthew Clemens, NMLS # 2423250, and Joseph Hudak, NMLS # 2447275 through City National Bank, may receive compensation from RBC Wealth Management for referring customers to City National Bank. Banking products and services are offered or issued by City National Bank, an affiliate of RBC Wealth Management, a division of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC and are subject to City National Banks terms and conditions. Products and services offered through City National Bank are not insured by SIPC. City National Bank Member FDIC.

Investment products offered through RBC Wealth Management are not FDIC insured, are not guaranteed by City National Bank and may lose value.

Matthew Clemens is currently registered to conduct business with residents of the following states: AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, IL, IN, MA, MD, MI, MN, MT, NC, NJ, NV, NY, OH, OR, PA, SC, TN, TX, UT, VA, WA, WI, WV.

, Cynthia McHugh, NMLS # 2419917, Matthew Clemens, NMLS # 2423250, and Joseph Hudak, NMLS # 2447275 through City National Bank, may receive compensation from RBC Wealth Management for referring customers to City National Bank. Banking products and services are offered or issued by City National Bank, an affiliate of RBC Wealth Management, a division of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC and are subject to City National Banks terms and conditions. Products and services offered through City National Bank are not insured by SIPC. City National Bank Member FDIC.

Investment products offered through RBC Wealth Management are not FDIC insured, are not guaranteed by City National Bank and may lose value.

Joseph Hudak is currently registered to conduct business with residents of the following states: AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, IL, IN, MA, MD, MI, MN, MT, NC, NJ, NV, NY, OH, OR, PA, SC, TN, TX, UT, VA, WA, WI, WV.

, Cynthia McHugh, NMLS # 2419917, Matthew Clemens, NMLS # 2423250, and Joseph Hudak, NMLS # 2447275 through City National Bank, may receive compensation from RBC Wealth Management for referring customers to City National Bank. Banking products and services are offered or issued by City National Bank, an affiliate of RBC Wealth Management, a division of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC and are subject to City National Banks terms and conditions. Products and services offered through City National Bank are not insured by SIPC. City National Bank Member FDIC.

Investment products offered through RBC Wealth Management are not FDIC insured, are not guaranteed by City National Bank and may lose value.

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Investment and insurance products offered through RBC Wealth Management are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal amount invested.

Contact information

The Clemens McHugh Financial Consulting Group

Phone: 216-372-1974

Cynthia McHugh, CDFA®, CFP®, CRPS®

Senior Vice President - Financial Advisor,
Senior Portfolio Manager

Phone: 216-372-1974
Cell: 216-372-1974

Matthew Clemens, CFP®, MBA

Senior Vice President - Financial Advisor,
Senior Portfolio Manager

Phone: 216-314-0968
Cell: 216-314-0968

Joseph Hudak

First Vice President - Financial Advisor

Phone: 216-774-8911
Cell: 216-347-1544