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  Market Alert  

Onward and Upward

The stock market registered another solid advance last week, with the S&P up 1.6% [+11.7% YTD] and the Nasdaq up 1.4% [+19.8% YTD]. This was in response to Irma’s less-than-expected damage estimates and in spite of Friday’s latest North Korea missile launch [the chances of a “kinetic response” are increasing!]. After hitting a 10-month low last week, the 10 year treasury yield rose to 2.2%.

Total August CPI increased 0.4% [consensus 0.3%], while core CPI rose 0.2% as expected.

Inflation 9.19.17

This raised the market’s expectations of a Dec FF rate increase to 58%, up from a previous 31%. The Fed will consider inflation and its outsized balance sheet [the Great Unwinding] during this week’s Tuesday-Wednesday FOMC meeting.

Finally, the Equifax hack [announced 9/7/17] has potentially exposed 143 million people to financial information theft over the summer. The federal investigation is still underway, but exposed individuals should take immediate action. Freeze your credit at each of the three credit bureaus. Begin monitoring your credit reports [experts suggest setting up a staggered report-request pattern so that every four months one of the three bureaus would provide a {free} credit report]. Consumer Reports offers additional suggestions for even better protection.

“A stitch in time saves nine”Francis Baily

Today's Markets