Today's presenters are, Greg Dufour, President Chief Executive Officer; and Greg White, Executive Vice President Chief Financial Officer. At this time, I would like to turn the conference over to Greg Dufour. Thank you and good afternoon and welcome to Camden National Corporation's Third Quarter 2021 Earnings Conference Call.
Sterling was little changed on Wednesday ahead of a half-yearly update on the public finances and economic outlook from British finance minister Rishi Sunak. Sunak will try to show that he is moving Britain on from the coronavirus pandemic on Wednesday when he announces multi-billion-pound investments to help Prime Minister Boris Johnson meet spending promises to voters. But the Sunak, who has adopted a more hawkish fiscal stance than many of his peers, is making investors and policymakers uneasy as higher inflation coupled with labour market shortages and supply chain disruptions are expected to hurt the economy.
October often brings the heaviest tax-loss selling, when fund managers unload money-losing stocks to offset gains from other ones.