www.northwesternmutual.com Open in urlscan Pro
2600:9000:2022:4a00:f:ad9:ce00:93a1  Public Scan

Form analysis
3 forms found in the DOM

<form class="nmx-search-form" id="nmx-search-form" role="search" autocomplete="off">
  <legend>Search NorthwesternMutual.com</legend><label for="nmx-search-field" class="nmx-hide">Search for specific advisors, products, services, articles, etc.</label><input type="search" role="searchbox" placeholder="Search nm.com"
    id="nmx-search-field" value=""><button id="nmx-search-form-submit" class="nmx-button" type="submit" value="Search">Search</button><button type="reset" class="nmx-icon nmx-icon-search-field-clear no-query">Clear</button>
</form>

POST https://login.northwesternmutual.com/login

<form class="nmx-form nmx-client-login-modal__form" method="POST" id="nmx-client-login-form" action="https://login.northwesternmutual.com/login">
  <fieldset class="nmx-client-login-modal__fieldset">
    <legend>Enter your username and password to access your account.</legend><label for="nmx-client-login-username" class="nmx-client-login-modal__form-field-label nmx-p">Username</label><input
      class="nmx-client-login-modal__form-field nmx-form__input" id="nmx-client-login-username" name="username" type="text" aria-required="true" value=""><label for="nmx-client-login-password"
      class="nmx-client-login-modal__form-field-label nmx-p">Password</label><input class="nmx-client-login-modal__form-field nmx-form__input" id="nmx-client-login-password" name="password" type="password" aria-required="true" value=""><button
      type="button" class="nmx-client-login-modal__button-hide-show-password"><span class="nmx-icon__container"><svg width="19.07" height="12.75" viewBox="0 0 19.07 12.75" fill="currentColor" class="nmx-icon">
          <path fill="#1570bc"
            d="M.1 6.17C.13 6.1 3.06 0 9.53 0s9.4 6.1 9.43 6.17l.1.22-.11.22c-.03.06-3.2 6.15-9.43 6.15S.14 6.66.11 6.6L0 6.38l.1-.22Zm1.02.2c.61 1.05 3.42 5.38 8.41 5.38s7.8-4.33 8.41-5.38C17.37 5.32 14.71 1 9.53 1S1.69 5.31 1.12 6.37Zm8.41-3.74a3.743 3.743 0 1 0 3.74 3.74 3.74 3.74 0 0 0-3.74-3.74Zm-2.54 4.8a2.744 2.744 0 0 0 5.28-1.05 2.737 2.737 0 0 0-4.68-1.93c-.78.79-1.02 1.97-.59 2.99Z"
            class="icon-fill" fill-rule="evenodd"></path>
          <path fill="none" stroke="#1570bc" d="m1.7.89 15.32 11.24" class="icon-stroke" stroke-linecap="round"></path>
        </svg></span></button>
    <p class="nmx-client-login-modal__login-assistance">Forgot <a href="https://login.northwesternmutual.com/forgot-username" aria-label="Help with finding your username">username</a> or
      <a href="https://login.northwesternmutual.com/password-reset" aria-label="Help with resetting your password">password</a>?</p>
  </fieldset><button id="nmx-client-login-submit" class="nmx-button nmx-button--secondary nmx-client-login-modal__submit" type="submit">Log in</button>
  <p class="nmx-client-login-modal__login-assistance">Don't have an account? <a href="https://login.northwesternmutual.com/registration" aria-label="Register for a new account.">Register</a>.</p>
</form>

<form id="suspect-email-capture-email-capture-form-id-1" class="text-sm font-extralight">
  <div class="email-capture-form-wrapper">
    <div class="form-field dynamic first-field"><label>First name<sup>*</sup></label> <input id="first-name-1" name="firstName" max-length="50" aria-label="first name input" placeholder="First Name" tabindex="0" required="required"
        class="form-control first-name" type="text"> <span class="errors"></span></div>
    <div class="form-field dynamic last-field"><label>Last name<sup>*</sup></label> <input id="last-name-1" name="lastName" max-length="50" aria-label="last name input" placeholder="Last Name" tabindex="0" required="required"
        class="form-control last-name" type="text"> <!----></div>
    <div class="form-field email-field"><label>Email<sup>*</sup></label> <input id="email-1" type="email" name="email" max-length="200" aria-label="email input" placeholder="Email" tabindex="0" required="required" class="form-control email"> <span
        class="errors"></span></div>
    <div class="get-matched-button-container"><button aria-label="Submit form to sign up for montly emails." type="submit" tabindex="0" class="email-capture-form-submit-button">Sign me up</button></div>
    <div>
      <div>
        <div class="grecaptcha-badge" data-style="bottomright"
          style="width: 256px; height: 60px; display: block; transition: right 0.3s; position: fixed; bottom: 14px; right: -186px; box-shadow: gray 0px 0px 5px; border-radius: 2px; overflow: hidden;">
          <div class="grecaptcha-logo"><iframe title="reCAPTCHA" width="256" height="60" role="presentation" name="a-g3j8v0buvety" frameborder="0" scrolling="no"
              sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-top-navigation allow-modals allow-popups-to-escape-sandbox allow-storage-access-by-user-activation"
              src="https://www.google.com/recaptcha/api2/anchor?ar=1&amp;k=6LfDgz8UAAAAADhSYaeXLOogd944BheK0b2VZoRr&amp;co=aHR0cHM6Ly93d3cubm9ydGh3ZXN0ZXJubXV0dWFsLmNvbTo0NDM.&amp;hl=en&amp;v=hfUfsXWZFeg83qqxrK27GB8P&amp;size=invisible&amp;cb=h02lm4jx4sre"></iframe>
          </div>
          <div class="grecaptcha-error"></div><textarea id="g-recaptcha-response" name="g-recaptcha-response" class="g-recaptcha-response"
            style="width: 250px; height: 40px; border: 1px solid rgb(193, 193, 193); margin: 10px 25px; padding: 0px; resize: none; display: none;"></textarea>
        </div><iframe style="display: none;"></iframe>
      </div><button id="hidden-submission-id-1" aria-hidden="true" class="invisible hidden" style=""></button>
    </div>
  </div>
</form>

Text Content

Skip to main content


NORTHWESTERN MUTUAL

PRIMARY NAVIGATION

 * Home
 * About Us
   * Back to main menu
   * About Us Overview
   * Working With an Advisor
   * Our Financial Strength
   * Sustainability Report
 * Financial Planning
   * Back to main menu
   * Financial Planning Overview
   * Retirement Planning
     * Back to Financial Planning
     * Retirement Planning Overview
     * Retirement Calculator Beach chair icon
   * College Savings Plans
   * Private Wealth Management
   * Estate Planning
   * Long-Term Care
   * Business Services
 * Insurance
   * Back to main menu
   * Insurance Overview
   * Life Insurance
     * Back to Insurance
     * Life Insurance Overview
     * Whole Life Insurance
     * Universal Life Insurance
     * Variable Universal Life Insurance
     * Term Life Insurance
     * Life Insurance Calculator Shield icon
   * Disability Insurance
     * Back to Insurance
     * Disability Insurance Overview
     * Disability Insurance  For Individuals
     * Disability Insurance  For Doctors and Dentists
     * Disability Insurance Calculator Money Parachute icon
   * Long-Term Care
   * Income Annuities
 * Investments
   * Back to main menu
   * Investments Overview
   * Brokerage Accounts & Services
   * Private Wealth Management
   * Investment Advisory Services
   * Fixed & Variable Annuities
   * Private Client Services
   * Market Commentary
 * Life & Money
   * Back to main menu
   * Life & Money Overview
   * Educational Resources About Financial Planning
   * Educational Resources About Investing
   * Educational Resources About Insurance
   * Educational Resources About Everyday Money
   * Educational Resources About Family & Work
   * Market Commentary

UTILITY NAVIGATION

 * Log in
 * Find a Financial Advisor
 * Claims
 * Search Search icon

Cancel and Close Search
Search NorthwesternMutual.comSearch for specific advisors, products, services,
articles, etc.SearchClear

Close Login Window

LOG IN

Please fill in your Username and Password.

Enter your username and password to access your account.UsernamePassword

Forgot username or password?

Log in

Don't have an account? Register.

Log in to other Northwestern Mutual sites:

 * Access Fund
 * Business Insurance
 * Brokerage and Advisory

GET ANYWHERE ACCESS, GO MOBILE

 * 
 * 


 * Life & Money
 * Market Commentary
 * Weekly Market Commentary


MARKETS BOUNCE BACK, BUT RISKS REMAIN

--------------------------------------------------------------------------------

 * Brent Schutte, CFA®
 * Aug 12, 2024

Photo credit: Digital Vision/Getty Images
share

Brent Schutte, CFA, is chief investment officer of the Northwestern Mutual
Wealth Management Company.

A volatile week ended with the major indices regaining most of the losses from
Monday’s sharp sell-off. The drop on Monday, which saw the S&P 500 down 3
percent at close, was a carryover from the prior week, when weaker than expected
employment data and signs of a slowing economy had investors fearing a recession
may be on the horizon. Concerns of an economic contraction have since eased as
many investors were cheered by fewer than expected initial jobless claims last
week. Additionally, there was a growing sense that the Fed has the greenlight to
cut rates aggressively at its September meeting and may approve a cut beforehand
should employment show more signs of economic weakness. In some ways, last week
wasn’t all that different than what we’ve been highlighting for the past several
months. Yes, volatility spiked in the market; and yes, the size of the sell-off
after the weaker than expected jobs data was unusual. However, just as we’ve
seen for most of this year, concerns sparked by weak economic news eventually
faded as investors found a “but” to counter the latest data point.

The casting aside of warning signs about the economy for much of this year has
been bolstered by two factors. First, as we noted in last week’s commentary,
many normally reliable economic indicators have been signaling an approaching
recession for up to two years—yet economic growth has continued. And second,
while parts of the economy showed signs of strain, the job market remained
robust, which many reasoned would help the economy stay afloat. However, the
recent climb of the unemployment rate to 4.3 percent has triggered the so-called
Sahm rule and weakened the case for a soft landing. This rule shows that since
1960, every time the three-month moving average unemployment rate rose by 0.5
percent or more from the prior 12-month low, a recession followed. While some on
Wall Street have countered that aggressive rate cuts by the Fed could still
offset any momentum of an economic slowdown, we believe the Federal Open Markets
Committee may be more conservative in reducing rates than many expect. That’s
because consumers remain in relatively good financial shape, and inflation
pressures have eased but not completely dissipated.

While we continue to believe the economy is likely headed for a contraction
based on a wide array of forward-looking indicators, we also acknowledge that it
is impossible to predict with any certainty when a recession may arrive. Indeed,
the many head fakes from the data since COVID have understandably made investors
somewhat desensitized to many of the warnings we’ve seen. But while it’s natural
that there are differing opinions on how long the current growth cycle can
continue, we believe it is fair to say that risks in the economy—and the
markets—have risen as the weight of higher interest rates continue to act as a
drag on growth. As such, we believe investors would be well served by asking
“what if?” What if the labor market, which is widely considered a lagging
economic indicator, falters further? What if the previously reliable indicators
are still directionally right even if the timing is delayed? By no means are we
suggesting that these what-if questions should prompt you to abandon your
investment plan. Instead, we believe the acknowledgement that economic risk is
heightened and, given signs of a weakening labor market, that we are closer to a
recession now than we were at the start of the post-COVID economic recovery
should encourage you to lean into your investment and financial plans.

Put another way, we suggest the best way of dealing with uncertainty is to 1)
develop a financial plan and 2) always adhere to diversification. Work with your
advisor to develop a financial plan that you follow through both good times and
bad. Embedded within that plan is the reality that life and markets are
uncertain. Any resulting asset allocation acknowledges that potential
volatility. We believe the best manner to deal with that volatility is through
diversification, which acknowledges that no one knows for certain what will
happen. And while diversification is often viewed as a defensive tool, we
believe it should be considered an all-weather approach that allows investors to
have exposure to asset classes that typically perform well even as others lag.
At Northwestern Mutual, our advisors have tools to help prepare for all of
life’s challenging events and uncertainties.

HAVE A QUESTION OR A TOPIC TO DISCUSS WITH YOUR ADVISOR?

Reach out


WALL STREET WRAP

Data out last week suggests that the slowdown in the economy may be gaining
momentum, which could lead to further softening of the employment picture.

Services sector activity perks up: The latest headline reading from the
Institute for Supply Management (ISM) shows activity in the services sector
rebounded in July with a reading of 51.4, up 2.6 points from June’s reading of
48.8. New orders rose to 52.4 from the previous month’s level of 47.3. Along
with rising growth, demand for workers moved higher, with the employment index
coming in at 51.1 compared to June’s reading of 46.1. It’s worth noting,
however, that July was only the second month this year that saw growth in
employment. Additionally, the six- and 12-month average readings for employment
are at levels that typically signal rising unemployment and a looming recession.
This is why we believe that the recent triggering of the Sahm rule is a warning
sign despite some on Wall Street suggesting the rule may not be a valid
indicator in this economic cycle.

While the report offered some positive news compared to the prior week’s
Institute for Supply Management (ISM) report on the manufacturing side of the
economy, there were also some details that warrant further watching. On the
inflation front, the prices paid index in the survey rose to 57 from June’s 56.3
reading. Additionally, of 18 industries covered by the survey, 11 reported
paying higher prices, and readings on inventory sentiment continued to suggest
that companies believe they have too much inventory on hand. July’s reading came
in as 63.2, down modestly from June’s level of 64.1. Digging deeper, subtracting
the inventory sentiment reading from the new orders reading has proven to be a
reliable indicator of recessions. The latest calculation results in a -10.8
reading, which is slightly less negative than last month but is still at a level
that has been consistent with recessions going back to 1997.

The rising costs on the services side of the economy, along with renewed demand
for workers, could complicate the Fed’s ability to be aggressive once they begin
cutting rates. That’s because members of the Fed will still be wary of
reigniting price pressures and losing the hard-fought progress they’ve made on
inflation over the past two years.

This report, taken with the most recent ISM data on the manufacturing side of
the economy, shows that the economically weighted ISM (reflecting the
contribution percentage of the services and manufacturing sectors in total
economic activity) is at 50.9. Going back to 1997, this level has pointed to a
weak economy on the verge of recession. Importantly, two of the past four
weighted Purchasing Managers’ Index (PMI) readings were at contractionary
levels.

Debt delinquencies edge higher: The latest report from the Federal Reserve Bank
of New York shows consumers took on more debt during the second quarter of the
year and that they were falling further behind on their loan payments. According
to the report, household debt levels grew by $1.09 billion during the quarter to
$17.8 trillion. At the same time, 3.2 percent of all loans were in delinquency,
with credit card debt (9.1 percent) and car loans (8 percent) showing the
highest rates of delinquency. The modest uptick in delinquencies means credit
card and auto loans that are seriously delinquent (more than 90 days) are now
above levels they were at just prior to the 2007 and 2001 recessions.

Mortgage debt delinquency levels remain relatively low compared to levels seen
before past recessions. The latest data shows 0.95 percent of mortgages were
delinquent, up just .04 percent from the first quarter and below the 1.18
percent rate seen in 2001. For further context, mortgage delinquencies spiked to
3.68 percent in 2007 at the beginning of the Great Financial Crisis.

More tightening by lenders: Businesses and consumers saw lending standards
tighten modestly during the second quarter, according to the results of the
Federal Reserve’s Senior Loan Officer Opinion Survey on Lending Practices.
Overall lending standards tightened during the quarter, but a lower net share of
banks reported ratcheting up their lending credit terms and requirements.

The net percentage of lenders reporting tighter lending standards for commercial
and industrial loans for large and middle-market firms came in at 7.9 percent in
the second quarter, down from 15.6 percent in the first quarter. Of those who
reported tightening lending standards for commercial and industrial loans, 88.9
percent cited worsening or uncertain economic conditions as a contributing
factor in their decision to tighten standards. Standards for commercial real
estate tightened, with a net 23.8 percent of all banks noting that they had
tightened standards during the second quarter.

While overall banks reported basically unchanged lending standards for
households, 20 percent of respondents reported tightening credit standards for
issuing credit cards, down modestly from 21.2 percent in the first quarter. Auto
loan standards were basically unchanged, but demand for auto loans weakened. The
continued tightening of standards for credit card issuance comes at a time when
consumers are increasingly turning to credit card usage to fund their spending.
Should credit standards continue to rise, it could affect consumer spending in
the future.

Continuing jobless claims rise: Initial jobless claims were 233,000, down 17,000
from last week’s level and below Wall Street estimates. However, the four-week
rolling average of new jobless claims came in at 240,750, an increase of 2,500
from the previous week’s average.

Continuing claims (those people remaining on unemployment benefits) stand at
1.875 million, up 6,000 from the previous week’s revised total and now at the
highest level since November 2021. The four-week moving average of continuing
claims came in at 1.862 million, an increase of 7,000 from last week and the
highest level since November 2021. We view continuing claims as a more reliable
indicator of the labor market, as they measure workers who are facing long-term
challenges in finding a job and, as such, filter out some of the temporary noise
that can be found in initial claims data.


THE WEEK AHEAD

Tuesday: The National Federation of Independent Businesses Small Business
Optimism Index readings for July will be out prior to the opening bell. Recent
readings have shown a modest uptick in optimism but have indicated that price
pressures and the state of the labor market continue to weigh on small
businesses, with many firms raising wages. We will watch for signs that suggest
these challenges are easing.

The latest readings from the Bureau of Labor Statistics on its Producer Price
Index will offer a look at changes in costs for buyers of finished goods for
July. We will be watching to see if input costs continue to creep higher, which
could put pressure on profit margins or slow the pace of disinflation.

Wednesday: The Consumer Price Index report from the Bureau of Labor Statistics
will be the big report for the week. Recent data has shown the disinflationary
process has restarted, and we will be dissecting the data to see if it suggests
prices continue to ease.

Thursday: Initial and continuing jobless claims will be out before the market
opens. Continuing claims have been trending higher, and we’ll continue to
monitor this report for further signs of eroding strength of the employment
picture.

The U.S. Census Bureau will release the latest numbers on retail sales for July
before the opening bell. Last month’s report showed tepid sales, and we will be
watching to see if consumers have continued to pull back on spending.

The Federal Reserve Board will release industrial production data for July. This
measure has been weak since late 2022 but has recently shown signs of perking
up. We will be watching to see if the manufacturing sector is showing additional
signs of strengthening.

The Homebuilders Index from the National Association of Home Builders will be
out in the morning. Confidence among builders has been under pressure lately as
high mortgage rates have persisted. With hopes of rate cuts reigniting during
the past few weeks, we will be watching to see if optimism has perked up.

Friday: The University of Michigan will release its preliminary report on August
consumer sentiment and inflation expectations. We will be watching to see if
recent concerns on Wall Street about a potential recession has taken a toll on
the outlook of consumers.

We’ll get July housing starts and building permits from the U.S. Census Bureau.
This data, along with the Homebuilders Index released on Thursday, will provide
insight into the home construction market.


NM IN THE MEDIA

See our experts' insight in recent media appearances.

CNBC

Brent Schutte, Chief Investment Officer, discusses why he still expects a
recession and where he sees areas of opportunity in the markets. Watch

Cheddar News

Matt Stucky, Chief Portfolio Manager-Equities, discusses first quarter earnings
season, slowing economic growth and the outlook for Federal Reserve policy in
the second half of the year. Watch

Yahoo! Finance

Brent Schutte, Chief Investment Officer, discusses his expectations of how the
Federal Reserve may proceed with rates and the risks of chasing current market
leaders. Watch

Follow Brent Schutte on X (formerly Twitter) and LinkedIn.

Commentary is written to give you an overview of recent market and economic
conditions, but it is only our opinion at a point in time and shouldn’t be used
as a source to make investment decisions or to try to predict future market
performance. To learn more, click here.

There are a number of risks with investing in the market; if you want to learn
more about them and other investment-related terminology and disclosures, click
here.

Brent Schutte, CFA® Chief Investment Officer

As the chief investment officer at Northwestern Mutual Wealth Management
Company, I guide the investment philosophy for individual retail investors. In
my more than 25 years of investment experience, I have navigated investors
through booms and busts, from the tech bubble of the late 1990s to the financial
crisis of 2008-2009. An innate sense of investigative curiosity coupled with a
healthy dose of natural skepticism help guide my ability to maintain a steady
hand in the short term while also preserving a focus on long-term investment
plans and financial goals.

WANT MORE? GET FINANCIAL TIPS, TOOLS, AND MORE WITH OUR MONTHLY NEWSLETTER.

First name*
Last name*
Email*
Sign me up


article


WAYS TO LEAVE A FINANCIAL LEGACY

Get Started
article


6 THINGS THAT SHOULD BE PART OF YOUR FINANCIAL PLAN

Get Started
article


YOUR MIDYEAR FINANCIAL CHECKUP

Get Started




FIND WHAT YOU'RE LOOKING FOR AT NORTHWESTERN MUTUAL

NORTHWESTERN MUTUAL GENERAL DISCLAIMER

Northwestern Mutual is the marketing name for The Northwestern Mutual Life
Insurance Company and its subsidiaries. Life and disability insurance,
annuities, and life insurance with longterm care benefits are issued by The
Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). Longterm care
insurance is issued by Northwestern Long Term Care Insurance Company, Milwaukee,
WI, (NLTC) a subsidiary of NM. Investment brokerage services are offered through
Northwestern Mutual Investment Services, LLC (NMIS) a subsidiary of NM,
brokerdealer, registered investment advisor, and member FINRA and SIPC.
Investment advisory and trust services are offered through Northwestern Mutual
Wealth Management Company (NMWMC), Milwaukee, WI, a subsidiary of NM and a
federal savings bank. Products and services referenced are offered and sold only
by appropriately appointed and licensed entities and financial advisors and
professionals. Not all products and services are available in all states. Not
all Northwestern Mutual representatives are advisors. Only those representatives
with Advisor in their title or who otherwise disclose their status as an advisor
of NMWMC are credentialed as NMWMC representatives to provide investment
advisory services.

NORTHWESTERN MUTUAL

FOOTER NAVIGATION

 * About Us
 * Newsroom
 * Careers
 * Information Protection

 * Business Services
 * Contact Us
 * FAQs
 * Legal Notice

 * Sitemap
 * Privacy Notices
   
 * Do Not Sell or Share My Personal Information
   

CONNECT WITH US

 * Facebook iconConnect with us on Facebook
 * X iconFollow Northwestern Mutual on X
 * LinkedIn iconVisit Northwestern Mutual on LinkedIn
 * Instagram iconFollow Northwestern Mutual on Instagram
 * YouTube iconConnect with Northwestern Mutual on YouTube

OVER 6,400 FINANCIAL ADVISORS AND PROFESSIONALS NATIONWIDE*

Find an Advisor

FOOTER COPYRIGHT

*Based on Northwestern Mutual internal data, not applicable exclusively to
disability insurance products.

Copyright © 2024 The Northwestern Mutual Life Insurance Company, Milwaukee, WI.
All Rights Reserved. Northwestern Mutual is the marketing name for The
Northwestern Mutual Life Insurance Company and its subsidiaries.





NOTICE, CONSENT AND RIGHT TO OPT OUT

We use cookies on our site to enhance navigation, analyze user behavior,
personalize features, and place our ads. You may accept or opt out of marketing
cookies that share information for our advertising purposes. By using our
website, you consent to collection and use of cookies to enhance navigation,
analyze user behavior, and personalize features. For more information about how
we use cookies, please read ourOnline Privacy Statement
Opt Out Accept Cookies


Your Opt Out Preference Signal is Honored


NOTICE, CONSENT, & RIGHT TO OPT OUT

When you visit our website, we store cookies on your browser to collect or
retrieve information. We may use Marketing Cookies to share information with
third parties to place our ads on other websites and social media. When used,
you'll have the option to opt out below. If you don't see that option, it means
this website does not use Marketing Cookies. We also use other types of cookies
on the website to enhance navigation, analyze user behavior, and personalize
features(e.g., Strictly Necessary, Performance and Functional). While you cannot
opt out below, you may disable Performance or Functional cookies through your
browser settings or plugins. However, this will impact your experience on the
website and the services we can offer to you online. IMPORTANT: Your choice to
opt out only applies to this website and the browser you are currently using. It
does not apply to different browsers or websites. If you visit this website
using a different browser, or visit another website, you will need to exercise
your choice again. For more information about our online privacy practices, read
our
Online Privacy Statement


COOKIES SETTINGS

MARKETING COOKIES

Marketing Cookies

Marketing cookies may be set through our website by our advertising partners.
They enable us to show you personalized ads elsewhere online and to understand
the effectiveness of our marketing efforts (e.g., whether you viewed or clicked
on one of our ads). The information stored in these cookies uniquely identifies
your browser or internet device. If you opt-out of these cookies, we will not be
able to offer you personalized ads. If you have enabled the Global Privacy
Control signal, we will take that signal as a valid request to opt out of
Marketing cookies

 * TARGETING COOKIES
   
   Switch Label label
   
   Targeting cookies may be set through our site by our advertising partners.
   They may be used by those companies to build a profile of your interests and
   show you relevant ads on other sites. They do not store information that
   directly identifies you, but are based on uniquely identifying your browser
   and internet device. If you do not allow these cookies, you will experience
   less targeted advertising.

STRICTLY NECESSARY, PERFORMANCE AND FUNCTIONAL COOKIES

Always Active

 * STRICTLY NECESSARY
   
   Always Active
   
   Strictly necessary cookies are necessary for the website to function and
   cannot be switched off in our systems. They are usually only set in response
   to actions made by you which amount to a request for services, such as
   setting your privacy preferences, logging in, or filling in forms. We also
   use these cookies to keep our website safe and secure. These cookies do not
   store information that directly identifies you. You can set your browser to
   block or alert you about these cookies, but some parts of the website will
   not function properly.

 * PERFORMANCE COOKIES
   
   Always Active
   
   Performance cookies allow us to count visits and traffic sources so we can
   measure and improve the performance of our site. They help us to know which
   pages are the most and least popular and see how visitors move around the
   site. These cookies generally collect aggregated information tied to a user's
   web session. If you do not allow these cookies we will not know when you have
   visited our site, and will not be able to monitor its performance.

 * FUNCTIONAL COOKIES
   
   Always Active
   
   Functional cookies enable the website to provide enhanced functionality and
   personalization, improved online experience, and features you have requested.
   They may be set by us or by service providers whose services we have added to
   our pages. If you do not allow these cookies, some or all of these services
   may not function properly.

Back Button


COOKIE LIST



Search Icon
Filter Icon

Clear
checkbox label label
Apply Cancel
Consent Leg.Interest
checkbox label label
checkbox label label
checkbox label label

Confirm