Melissa Giles, Portfolio Manager with Americana Partners presents the Monthly Market Commentary as written by, David M Darst, Chief Investment Officer with Americana Partners.  Any charts/graphs referenced are available in print format and may be provided at your request.

David served for 17 years as a Managing Director and Chief Investment Strategist of Morgan Stanley Wealth Management, with responsibility for Asset Allocation and Investment Strategy; was the founding President of the Morgan Stanley Investment Group; and was founding Chairman of the Morgan Stanley Wealth Management Asset Allocation Committee.

Join Our Distribution List – For a full copy of our report.

Americana Partners - https://www.americanapartners.com/contact/

Americana Partners Website - https://www.americanapartners.com/

Linked In - https://www.linkedin.com/company/americana-partners/

Spotify - https://open.spotify.com/show/3rX19ND89pwEob9efsFNNF

iTunes - https://podcasts.apple.com/us/podcast/americana-partners/id1496186853

Also on Google Play and Google Podcasts

Americana Partners, LLC is registered as an investment adviser with the SEC. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser does not constitute an endorsement of the firm by securities regulators nor does it indicate that the adviser has attained a particular level of skill or ability. The tax and legal information contained in this newsletter is general in nature. It should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial foreign operations can involve additional risks relating to political, economic, or regulatory conditions in foreign countries. These risks include fluctuations in foreign currencies; withholding or other taxes; trading, settlement, custodial, and other operational risks; and less stringent investor protection and disclosure standards in some foreign markets. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently from the U.S. market. Investing involves certain risks, including possible loss of principal. You should understand and carefully consider a strategy's objectives, risks, fees, expenses and other information before investing. The views expressed in this commentary are subject to change and are not intended to be a recommendation or investment advice. Such views do not take into account the individual financial circumstances or objectives of any investor that receives them. The strategies described herein may not be suitable for all investors. There is no guarantee that the adviser will meet any of its investment objectives. All indices are unmanaged and are not available for direct investment. Indices do not incur costs including the payment of transaction costs, fees and other expenses. This information should not be considered a solicitation or an offer to provide any service in any jurisdiction where it would be unlawful to do so under the laws of that jurisdiction. Past performance is no guarantee of future results. Certain information herein has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation is made with respect to the accuracy, completeness or timeliness of this document.  All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals, and economic conditions may materially alter the performance of your portfolio. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses. Charts and graphs do not represent the performance of Americana Partners or any of its advisory clients. Historical performance results for investment indices and/or categories, generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment advisory fee, the incurrence of which would have the effect of decreasing historical performance results. There can be no assurances that an investor’s portfolio will match or outperform any particular benchmark.

Melissa Giles, Portfolio Manager with Americana Partners presents the Monthly Market Commentary as written by, David M Darst, Chief Investment Officer with Americana Partners.  Any charts/graphs referenced are available in print format and may be provided at your request.

David served for 17 years as a Managing Director and Chief Investment Strategist of Morgan Stanley Wealth Management, with responsibility for Asset Allocation and Investment Strategy; was the founding President of the Morgan Stanley Investment Group; and was founding Chairman of the Morgan Stanley Wealth Management Asset Allocation Committee.

Join Our Distribution List – For a full copy of our report.

Americana Partners - https://www.americanapartners.com/contact/

Americana Partners Website - https://www.americanapartners.com/

Linked In - https://www.linkedin.com/company/americana-partners/

Spotify - https://open.spotify.com/show/3rX19ND89pwEob9efsFNNF

iTunes - https://podcasts.apple.com/us/podcast/americana-partners/id1496186853

Americana Partners, LLC is registered as an investment adviser with the SEC. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser does not constitute an endorsement of the firm by securities regulators nor does it indicate that the adviser has attained a particular level of skill or ability. The tax and legal information contained in this newsletter is general in nature. It should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial foreign operations can involve additional risks relating to political, economic, or regulatory conditions in foreign countries. These risks include fluctuations in foreign currencies; withholding or other taxes; trading, settlement, custodial, and other operational risks; and less stringent investor protection and disclosure standards in some foreign markets. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently from the U.S. market. Investing involves certain risks, including possible loss of principal. You should understand and carefully consider a strategy's objectives, risks, fees, expenses and other information before investing. The views expressed in this commentary are subject to change and are not intended to be a recommendation or investment advice. Such views do not take into account the individual financial circumstances or objectives of any investor that receives them. The strategies described herein may not be suitable for all investors. There is no guarantee that the adviser will meet any of its investment objectives. All indices are unmanaged and are not available for direct investment. Indices do not incur costs including the payment of transaction costs, fees and other expenses. This information should not be considered a solicitation or an offer to provide any service in any jurisdiction where it would be unlawful to do so under the laws of that jurisdiction. Past performance is no guarantee of future results. Certain information herein has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation is made with respect to the accuracy, completeness or timeliness of this document.  All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals, and economic conditions may materially alter the performance of your portfolio. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses. Charts and graphs do not represent the performance of Americana Partners or any of its advisory clients. Historical performance results for investment indices and/or categories, generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment advisory fee, the incurrence of which would have the effect of decreasing historical performance results. There can be no assurances that an investor’s portfolio will match or outperform any particular benchmark.

Melissa Giles, Portfolio Manager with Americana Partners presents the Monthly Market Commentary as written by, David M Darst, Chief Investment Officer with Americana Partners.  Any charts/graphs referenced are available in print format and may be provided at your request.

David served for 17 years as a Managing Director and Chief Investment Strategist of Morgan Stanley Wealth Management, with responsibility for Asset Allocation and Investment Strategy; was the founding President of the Morgan Stanley Investment Group; and was founding Chairman of the Morgan Stanley Wealth Management Asset Allocation Committee.

Join Our Distribution List – For a full copy of our report.

Americana Partners - https://www.americanapartners.com/contact/

Americana Partners Website - https://www.americanapartners.com/

Linked In - https://www.linkedin.com/company/americana-partners/

Spotify - https://open.spotify.com/show/3rX19ND89pwEob9efsFNNF

iTunes - https://podcasts.apple.com/us/podcast/americana-partners/id1496186853

Americana Partners, LLC is registered as an investment adviser with the SEC. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser does not constitute an endorsement of the firm by securities regulators nor does it indicate that the adviser has attained a particular level of skill or ability. The tax and legal information contained in this newsletter is general in nature. It should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial foreign operations can involve additional risks relating to political, economic, or regulatory conditions in foreign countries. These risks include fluctuations in foreign currencies; withholding or other taxes; trading, settlement, custodial, and other operational risks; and less stringent investor protection and disclosure standards in some foreign markets. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently from the U.S. market. Investing involves certain risks, including possible loss of principal. You should understand and carefully consider a strategy's objectives, risks, fees, expenses and other information before investing. The views expressed in this commentary are subject to change and are not intended to be a recommendation or investment advice. Such views do not take into account the individual financial circumstances or objectives of any investor that receives them. The strategies described herein may not be suitable for all investors. There is no guarantee that the adviser will meet any of its investment objectives. All indices are unmanaged and are not available for direct investment. Indices do not incur costs including the payment of transaction costs, fees and other expenses. This information should not be considered a solicitation or an offer to provide any service in any jurisdiction where it would be unlawful to do so under the laws of that jurisdiction. Past performance is no guarantee of future results. Certain information herein has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation is made with respect to the accuracy, completeness or timeliness of this document.  All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals, and economic conditions may materially alter the performance of your portfolio. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses. Charts and graphs do not represent the performance of Americana Partners or any of its advisory clients. Historical performance results for investment indices and/or categories, generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment advisory fee, the incurrence of which would have the effect of decreasing historical performance results. There can be no assurances that an investor’s portfolio will match or outperform any particular benchmark.

Melissa Giles, Portfolio Manager with Americana Partners presents the Monthly Market Commentary as written by, David M Darst, Chief Investment Officer with Americana Partners.  Any charts/graphs referenced are available in print format and may be provided at your request.

David served for 17 years as a Managing Director and Chief Investment Strategist of Morgan Stanley Wealth Management, with responsibility for Asset Allocation and Investment Strategy; was the founding President of the Morgan Stanley Investment Group; and was founding Chairman of the Morgan Stanley Wealth Management Asset Allocation Committee.

Join Our Distribution List – For a full copy of our report.

Americana Partners - https://www.americanapartners.com/contact/

Americana Partners Website - https://www.americanapartners.com/

Linked In - https://www.linkedin.com/company/americana-partners/

Spotify - https://open.spotify.com/show/3rX19ND89pwEob9efsFNNF

Americana Partners, LLC is registered as an investment adviser with the SEC. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser does not constitute an endorsement of the firm by securities regulators nor does it indicate that the adviser has attained a particular level of skill or ability. The tax and legal information contained in this newsletter is general in nature. It should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial foreign operations can involve additional risks relating to political, economic, or regulatory conditions in foreign countries. These risks include fluctuations in foreign currencies; withholding or other taxes; trading, settlement, custodial, and other operational risks; and less stringent investor protection and disclosure standards in some foreign markets. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently from the U.S. market. Investing involves certain risks, including possible loss of principal. You should understand and carefully consider a strategy's objectives, risks, fees, expenses and other information before investing. The views expressed in this commentary are subject to change and are not intended to be a recommendation or investment advice. Such views do not take into account the individual financial circumstances or objectives of any investor that receives them. The strategies described herein may not be suitable for all investors. There is no guarantee that the adviser will meet any of its investment objectives. All indices are unmanaged and are not available for direct investment. Indices do not incur costs including the payment of transaction costs, fees and other expenses. This information should not be considered a solicitation or an offer to provide any service in any jurisdiction where it would be unlawful to do so under the laws of that jurisdiction. Past performance is no guarantee of future results. Certain information herein has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation is made with respect to the accuracy, completeness or timeliness of this document.  All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals, and economic conditions may materially alter the performance of your portfolio. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses. Charts and graphs do not represent the performance of Americana Partners or any of its advisory clients. Historical performance results for investment indices and/or categories, generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment advisory fee, the incurrence of which would have the effect of decreasing historical performance results. There can be no assurances that an investor’s portfolio will match or outperform any particular benchmark.

Melissa Giles, Portfolio Manager with Americana Partners presents the Monthly Market Commentary as written by, David M Darst, Chief Investment Officer with Americana Partners.  Any charts/graphs referenced are available in print format and may be provided at your request.

David served for 17 years as a Managing Director and Chief Investment Strategist of Morgan Stanley Wealth Management, with responsibility for Asset Allocation and Investment Strategy; was the founding President of the Morgan Stanley Investment Group; and was founding Chairman of the Morgan Stanley Wealth Management Asset Allocation Committee.

Join Our Distribution List – For a full copy of our report.

Americana Partners - https://www.americanapartners.com/contact/

Americana Partners Website - https://www.americanapartners.com/

Linked In - https://www.linkedin.com/company/americana-partners/

Spotify - https://open.spotify.com/show/3rX19ND89pwEob9efsFNNF

Americana Partners, LLC is registered as an investment adviser with the SEC. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser does not constitute an endorsement of the firm by securities regulators nor does it indicate that the adviser has attained a particular level of skill or ability. The tax and legal information contained in this newsletter is general in nature. It should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial foreign operations can involve additional risks relating to political, economic, or regulatory conditions in foreign countries. These risks include fluctuations in foreign currencies; withholding or other taxes; trading, settlement, custodial, and other operational risks; and less stringent investor protection and disclosure standards in some foreign markets. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently from the U.S. market. Investing involves certain risks, including possible loss of principal. You should understand and carefully consider a strategy's objectives, risks, fees, expenses and other information before investing. The views expressed in this commentary are subject to change and are not intended to be a recommendation or investment advice. Such views do not take into account the individual financial circumstances or objectives of any investor that receives them. The strategies described herein may not be suitable for all investors. There is no guarantee that the adviser will meet any of its investment objectives. All indices are unmanaged and are not available for direct investment. Indices do not incur costs including the payment of transaction costs, fees and other expenses. This information should not be considered a solicitation or an offer to provide any service in any jurisdiction where it would be unlawful to do so under the laws of that jurisdiction. Past performance is no guarantee of future results. Certain information herein has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation is made with respect to the accuracy, completeness or timeliness of this document.  All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals, and economic conditions may materially alter the performance of your portfolio. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses. Charts and graphs do not represent the performance of Americana Partners or any of its advisory clients. Historical performance results for investment indices and/or categories, generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment advisory fee, the incurrence of which would have the effect of decreasing historical performance results. There can be no assurances that an investor’s portfolio will match or outperform any particular benchmark.

Melissa Giles, Portfolio Manager with Americana Partners presents the Monthly Market Commentary as written by, David M Darst, Chief Investment Officer with Americana Partners.  Any charts/graphs referenced are available in print format and may be provided at your request.

David served for 17 years as a Managing Director and Chief Investment Strategist of Morgan Stanley Wealth Management, with responsibility for Asset Allocation and Investment Strategy; was the founding President of the Morgan Stanley Investment Group; and was founding Chairman of the Morgan Stanley Wealth Management Asset Allocation Committee.

Join Our Distribution List – For a full copy of our report.

Americana Partners - https://www.americanapartners.com/contact/

Americana Partners Website - https://www.americanapartners.com/

Linked In - https://www.linkedin.com/company/americana-partners/

Spotify - https://open.spotify.com/show/3rX19ND89pwEob9efsFNNF

Americana Partners, LLC is registered as an investment adviser with the SEC. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser does not constitute an endorsement of the firm by securities regulators nor does it indicate that the adviser has attained a particular level of skill or ability. The tax and legal information contained in this newsletter is general in nature. It should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial foreign operations can involve additional risks relating to political, economic, or regulatory conditions in foreign countries. These risks include fluctuations in foreign currencies; withholding or other taxes; trading, settlement, custodial, and other operational risks; and less stringent investor protection and disclosure standards in some foreign markets. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently from the U.S. market. Investing involves certain risks, including possible loss of principal. You should understand and carefully consider a strategy's objectives, risks, fees, expenses and other information before investing. The views expressed in this commentary are subject to change and are not intended to be a recommendation or investment advice. Such views do not take into account the individual financial circumstances or objectives of any investor that receives them. The strategies described herein may not be suitable for all investors. There is no guarantee that the adviser will meet any of its investment objectives. All indices are unmanaged and are not available for direct investment. Indices do not incur costs including the payment of transaction costs, fees and other expenses. This information should not be considered a solicitation or an offer to provide any service in any jurisdiction where it would be unlawful to do so under the laws of that jurisdiction. Past performance is no guarantee of future results. Certain information herein has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation is made with respect to the accuracy, completeness or timeliness of this document.  All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals, and economic conditions may materially alter the performance of your portfolio. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses. Charts and graphs do not represent the performance of Americana Partners or any of its advisory clients. Historical performance results for investment indices and/or categories, generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment advisory fee, the incurrence of which would have the effect of decreasing historical performance results. There can be no assurances that an investor’s portfolio will match or outperform any particular benchmark.

Melissa Giles, Portfolio Manager with Americana Partners presents the Monthly Market Commentary as written by, David M Darst, Chief Investment Officer with Americana Partners.  Any charts/graphs referenced are available in print format and may be provided at your request.

David served for 17 years as a Managing Director and Chief Investment Strategist of Morgan Stanley Wealth Management, with responsibility for Asset Allocation and Investment Strategy; was the founding President of the Morgan Stanley Investment Group; and was founding Chairman of the Morgan Stanley Wealth Management Asset Allocation Committee.

Join Our Distribution List – For a full copy of our report.

Americana Partners - https://www.americanapartners.com/contact/

Americana Partners Website - https://www.americanapartners.com/

Linked In - https://www.linkedin.com/company/americana-partners/

Spotify - https://open.spotify.com/show/3rX19ND89pwEob9efsFNNF

Americana Partners, LLC is registered as an investment adviser with the SEC. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser does not constitute an endorsement of the firm by securities regulators nor does it indicate that the adviser has attained a particular level of skill or ability. The tax and legal information contained in this newsletter is general in nature. It should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial foreign operations can involve additional risks relating to political, economic, or regulatory conditions in foreign countries. These risks include fluctuations in foreign currencies; withholding or other taxes; trading, settlement, custodial, and other operational risks; and less stringent investor protection and disclosure standards in some foreign markets. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently from the U.S. market. Investing involves certain risks, including possible loss of principal. You should understand and carefully consider a strategy's objectives, risks, fees, expenses and other information before investing. The views expressed in this commentary are subject to change and are not intended to be a recommendation or investment advice. Such views do not take into account the individual financial circumstances or objectives of any investor that receives them. The strategies described herein may not be suitable for all investors. There is no guarantee that the adviser will meet any of its investment objectives. All indices are unmanaged and are not available for direct investment. Indices do not incur costs including the payment of transaction costs, fees and other expenses. This information should not be considered a solicitation or an offer to provide any service in any jurisdiction where it would be unlawful to do so under the laws of that jurisdiction. Past performance is no guarantee of future results. Certain information herein has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation is made with respect to the accuracy, completeness or timeliness of this document.  All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions or withdrawals, and economic conditions may materially alter the performance of your portfolio. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses. Charts and graphs do not represent the performance of Americana Partners or any of its advisory clients. Historical performance results for investment indices and/or categories, generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment advisory fee, the incurrence of which would have the effect of decreasing historical performance results. There can be no assurances that an investor’s portfolio will match or outperform any particular benchmark.