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June 19 , 2017
Statistic of the Week: 
Millennials are skeptical about several areas of the investment management process. 33% own equities, whereas 51% of non-millennials do so. They hold 52% of their accounts in cash, as opposed to 23% for the national average. 93% mistrust financial markets, and only 14% are likely to seek advice from a professional.
Global Perspective: 
After the financial and eurozone crises, it looks like Ireland may be on the road to recovery. Last week, the Irish government issued the IPO of Allied Irish Bank, a lender that they bailed out during the crisis in 2013. The government is releasing about 25% of the equity in the entity on the exchanges in Dublin and London.
Market Moving Events: 
Monday: Productivity and Costs, Factory Orders, ISM Non-Manufacturing Index Tuesday: JOLTS Wednesday: Consumer Credit Thursday: Jobless Claims Friday: Wholesale Trade
Commentary: 
While there was considerable negative sentiment at both the domestic and international levels surrounding the President’s decision to withdraw from the Paris Climate Accord, investment markets once again put on their blinders and ignored political news. The S&P 500 put in a rally of 1.01% while the DJIA rose 0.69% last week.1 The NASDAQ led the pack, as it has done all year, increasing 1.55%.2 Even though equity markets in US and abroad continue their march higher, Treasury yields are undaunted. The yield on the 10-year Treasury sank last week, finishing Friday at 2.15%.3 With the odds of a Federal Reserve rate hike on June 14th hovering near 90%,4 the decline in yields is notable. (We would normally expect to be seeing a rise in yields). The synchronized expansion of global equity markets has provided the opportunity for geographic diversification in many portfolios. With positive trends continuing at the global level, it alleviates some pressure on the US economy, which has acted as the main driver of global growth for some time. This comes as welcome news. While unemployment (chart right) and consumer sentiment continue to strengthen, the Citi Surprise Index (which measures expectations v. reality) has been underperforming.5 If the US economy continues to perform at satisfactory but not stellar levels, the ability to look abroad for potential returns may prove valuable. - 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

 Wealth Management

 

Global Perspective:

 The Economist

 

Market Moving Data:

Bloomberg.com

 

Chart of the Week:

Haver Analytics / Bureau of Labor Statistics

 

Commentary:

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