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June 19 , 2017
Statistic of the Week: 
The debate continues about whether active managers, mutual funds, or Exchange Traded Funds provide the best overall performance for investors. When surveyed, 77% of financial advisors believe that a blend of these investment vehicles is most likely to help a client achieve their long-term goals.
Global Perspective: 
In a move that further bolstered moderates in Europe, Emmanuel Macron’s party came in first in French legislative elections, securing 32% of the vote. The results put the president’s party in line for the largest majority ever after the June 18 elections. The far-right National Front party, with controversial leader Marine Le Pen, “was sidelined.”
Market Moving Events: 
Wednesday: Existing Home Sales, Petroleum Status Report Thursday: Jobless Claims Friday: New Home Sales, PMI Composite
Commentary: 
Domestic equity markets were a mixed bag last week, as much of the focus was on Federal Reserve policy and a major acquisition by Amazon. The DJIA finished up 0.59%, while the S&P was barely in the black – putting in a return of 0.12%.1 The NASDAQ, which has been under significant pressure the past several weeks, continued its decline. It retreated -0.88%.2 International markets followed suit, with the MSCI EAFE up a paltry 0.03%.3 Yields on the 10-year Treasury continued to stubbornly cling to the low end of their trading range. They ended the week with a yield of 2.16%.4 The Federal Reserve met market expectations and raised interest rates by 25 basis points. This is the fourth hike in the cycle, and happened despite a few data points which signaled that the economy may not be as robust as officials had hoped.5 Because this week’s economic calendar is so light, and there are numerous Federal Reserve officials speaking, their commentary may spark market movements. These comments will hopefully provide clarity on the “taper up” strategy that is being discussed. To reduce the size of their balance sheet after quantitative easing, the Fed will ease out of $10 billion to $50 billion in Treasuries per month. The exact date that this process will begin has not yet been disclosed, but Chairperson Janet Yellen did state that it will commence “this year.”6 Clarity around the timing of these open market transactions will undoubtedly shape market behavior. - Dan McElwee, CFP®
Chart of the Week: 
About Ventura Wealth Management: 
Ventura Wealth Management is an independent Registered Investment Advisor (RIA). Unparalleled service, objective advice, and comprehensive planning act as the central pillars of our client experience. We are dedicated to building long-term client relationships through diligent management, custom portfolios, client education, and ongoing financial review
Sources: 

Statistic of the Week

Journal of Financial Planning

 

Global Perspective:

 The Economist

 

Market Moving Data:

Bloomberg.com

 

Chart of the Week:

Haver Analytics / Federal Reserve Board

 

Commentary:

1.Bloomberg
2.Bloomberg
3.Bloomberg
4.Bloomberg
5.JP Morgan Asset Management
6.JP Morgan Asset Management
 
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