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May 27 2015

You could have set the events of last week to music.

Should they stay or should they go?

Last week, the Bank of England (BOE), Britain’s central bank, inadvertently sent a memo describing how staffers should handle press inquiries about its confidential research into the possibility of a British exit (Brexit) from the European Union, to the media. Oops.

The possibility of a Brexit is top-of-mind after the re-election of British Prime Minister David Cameron who promised voters a referendum on the issue by the end of 2017. Reuters reported, “Many British business leaders are worried about the possibility of losing access to their main export markets and there are also concerns about the impact on Britain’s financial services industry.”

There is no job too immense when you’ve got confidence.

Just before the long holiday weekend, while confirming the Federal Reserve still expects to begin raising its benchmark interest rate during 2015, Chairwoman Janet Yellen’s comments took a philosophical turn:

“Of course, the outlook for the economy, as always, is highly uncertain. I am describing the outlook that I see as most likely, but based on many years of making economic projections, I can assure you that any specific projection I write down will turn out to be wrong, perhaps markedly so. For many reasons, output and job growth over the next few years could prove to be stronger, and inflation higher, than I expect; correspondingly, employment could grow more slowly, and inflation could remain undesirably low.”

Money, it’s a gas.

When oil prices fell, many people assumed consumers would spend the windfall. For the most part, they didn’t. Barron’s reported earnings for several retailers were lower than expected last week.

All in all, it wasn’t a very exciting week for U.S. stock markets.

Sources:
http://www.reuters.com/article/2015/05/23/us-britain-boe-eu-idUSKBN0O805720150523
http://www.federalreserve.gov/newsevents/speech/yellen20150522a.htm
http://online.barrons.com/articles/after-drop-lowes-stock-could-be-a-buy-1432351570?mod=BOL_hp_we_columns

  • Data as of 5/22/151- WeekY-T-D1-Year3-Year5-Year10-Year
  • Standard & Poor’s 500 (Domestic Stocks)0.0020.0330.1230.1730.1460.059
  • Dow Jones Global ex-U.S.-0.78.60.410.16.73.9
  • 10-year Treasury Note (Yield Only)2.2N/A2.61.83.24.1
  • Gold (per ounce)-1.30.4-7.3-8.70.311.2
  • Bloomberg Commodity Index-2.7-1.8-24.4-8.7-3.8-3.6
  • DJ Equity All REIT TR Index-1.2-0.612.512.915.17.9

*Indices are unmanaged and investors cannot invest directly in an index.
*Sources: Yahoo! Finance, Barron’s, djindexes.com, London Bullion Market Association.
*S&P 500, Gold, Dow Jones Global ex-Us, Bloomberg Commodity Index returns exclude reinvested dividends (gold does not pay a dividend).
*The DJ Equity All REIT Total Return Index does include reinvested dividends.
*All investments involve risk – coins and bullion are no exception. The value of bullion and coins is affected by many economic circumstances, including the current market price of bullion, the perceived scarcity of the coins and other factors. Therefore, because both bullion and coins can go down as well as up in value, investing in them may not be suitable for everyone. Since all investments, including bullion and coins, can decline in value, you should understand them well, and have adequate cash reserves and disposable income before considering a bullion or coin investment.

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Bart A Zandbergen, CFP® is a Registered Investment Advisor with Optivest, Inc and a Registered Representative with Gramercy Securities, Inc. Investment advisory services are offered by Optivest, Inc. under SEC Registration and securities are offered through Gramercy Securities, Inc., member FINRA & SIPC, 3949 Old Post Road, Charlestown, RI, 02813, 800-333-7450.

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