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June 19 , 2017
Statistic of the Week: 
It’s not just the US that is lacking in retirement savings. When the world’s major economies are combined, retirement plans are $400 trillion underfunded. That figure is about five times the size of the global economy. The report by the World Economic Forum also says that over half of all retirement assets are currently in US 401(k) plans.
Global Perspective: 
In a bold move, Conservative Party leader Theresa May had called for snap elections in the UK. Designed to secure a bigger majority for the Brexit negotiations, the move terribly backfired. Failing in last week’s polls, Prime Minister May was forced to form a majority with the Democratic Unionist Party of Northern Ireland. The pound was lower on the news.
Market Moving Events: 
Monday: Treasury Budget Tuesday: Producer Price Index Wednesday: Consumer Price Index, Retail Sales, FOMC Meeting Announcement Thursday: Jobless Claims, Philly Fed, Industrial Production, Housing Market Index Friday: Housing Starts
Commentary: 
With the British elections (see the “Global Perspective) and former FBI Director James Comey testifying on Capitol Hill, global markets took on a cautious tone last week. The S&P 500 was slightly negative, falling -0.27%,1 while the DJIA inched into positive territory, up 0.33%.2 The NASDAQ, which has been a standout performer so far in 2017, suffered the worst of the three major domestic indices, down -1.53%.3 International equity markets mirrored US action; the MSCI EAFE Index fell -1.16%.4 while the MSCI EM (emerging markets) ticked up a meager 0.36%.5 Fixed income was largely unchanged on the week. The 10-year US Treasury ended Friday with a yield of 2.21%.6 While our team identifies political risk, in both domestic and international flavors, as the largest threats to the investment markets at this time, the disparity in returns between US and international markets is notable. Since 2009, US equities have outperformed their international counterparts in both the developed and emerging markets by over 100%.7 The strong dollar has aided the rise of US prices, while debt issues have plagued the European recovery and weak commodity prices have weighed on emerging market positions.8 Corporate earnings in these other market places appear to be perking up, and it may provide opportunities for investment and portfolio diversification. A synchronized global expansion would be a welcome change of pace. - 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

 Bloomberg.com

 

Global Perspective:

 The New York Times

 

Market Moving Data:

Bloomberg.com

 

Chart of the Week:

Haver Analytics / Federal Reserve Board

 

Commentary:

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