January’s presentation will focus on Commerce Bank’s outlook for both the US and International economies and conclude with Commerce Trust Company’s outlook and recommendation for investment portfolios.


  • US Economy is probably in better shape than most recognize
  • Still, there is global divergence and the world’s economy is no longer in a synchronized expansion
  • As such, the risk to our economic expansion ending continues to grow
  • However, we expect the current economic expansion to last for several more years, longer than the typical consensus forecast
  • Despite our optimistic economic outlook, risk assets (stocks) have rallied more than 300% and this has been the longest bull market without a 20% correction
  • We are currently focused on ensuring client’s recognize these risks and rebalance their likely overweight to equities back into higher quality long dated fixed income assets


7:30 – 7:45 am Registration/Breakfast
7:45 – 8:00 am MAPGC Annual Meeting (please note earlier time for Annual Meeting)
8:00 – 9:00 am Program

Presenter: Scott M. Colbert, CFA Executive Vice President, Chief Economist and Director of Fixed Income Management at Commerce Trust Company

Scott is the Chief Economist and Director of Fixed Income Management with The Commerce Trust Company. He joined Commerce in 1993 and has investment responsibilities for over $21 billion in fixed income assets. Scott directly manages the Commerce Short-Term Government and the flagship Commerce Bond strategies.

Prior to joining Commerce Bank, Scott worked for The Cincinnati Gas and Electric Company, Fifth Third Bank, and ARMCO Inc. Scott received his bachelor of science degree in nuclear engineering from the University of Cincinnati in 1986 and received his master of business administration from Xavier University in 1988. He has been both a director and president of the Chartered Financial Analyst Society of St. Louis.