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March 20 , 2017
Statistic of the Week: 
Americans have $1.3 trillion in student loans spread across 40 million debtors. Of that figure, approximately $110 billion is in default. 59% of millennials do not know how long it will take for them to become debt free.
Global Perspective: 
US tech stocks had an interesting week in Europe. Amazon announced it would increase its British workforce by 25% (similar moves have been made by Apple, Google, and Faceboook). Meanwhile, Apple is appealing a tax ruling in the European Court of Justice where it lost a judgement for $14billion in back taxes.
Market Moving Events: 
Monday: Durable Goods, Pending Home Sales Tuesday: GDP, International Trade, Consumer Confidence Wednesday: Vehicle Sales, ISM Manufacturing Index, Construction Spending Thursday: Jobless Claims Friday: ISM Non-Manufacturing Index
Commentary: 
US equity markets continued their move higher last week, with the DJIA rallying for 11 days in a row, a feat it has not accomplished since 1992.1 The S&P 500 is up for five weeks in a row, and closed the week up 0.73%.2 Year to date, the Dow has risen 5.81% and the S&P 500 has climbed 6.09%.3 Developed international markets, so far, have been laggards. The MSCI EAFE index is up 4.23%.4 Many analysts had been expecting developed international holdings to enter a phase of outperformance in 2017. The year is still young, but that has not been the case. While equities catch the headlines, the bond market may be the real story. Even though equity prices have continued their steady march higher, bond yields have been stable and even moved lower last week. The yield on the 10-year Treasury dipped to 2.31% at Friday’s close.5 Since Election Day, domestic equity markets have been rallying largely on the hope that Donald Trump’s campaign promises translate into pro-growth policies in both the White House and Congress. Tomorrow, Trump will deliver his first address to a joint session of Congress. It is safe to say that the markets typically watch presidential addresses, but not with the fixation this one is likely to generate. Investors will be looking for hard details, not just grand overtures. The President’s budget proposal is expected as early as today,6 and will likely impact market sentiment. The $2.8 trillion in market value that has been added to the S&P 500 since the election7 is riding on how investors interpret this data. - 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:

The Journal of Financial Planning

 

Global Perspective:

The Economist

 

Market Moving Data:

Bloomberg.com

 

Chart of the Week:

Haver Analytics / Census Bureau

Commentary:

1.John Hancock Asset Management
2.Bloomberg
3.Bloomberg
4.Bloomberg
5.Bloomberg
6.Bloomberg.com
7.Bloomberg.com
 
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