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| J. PINK ASSOCIATES, INC.,
FINANCIAL ADVISORS
555 Taxter Rd. Suite 190
Elmsford, NY 10523
Ph... 914-524-7770
Fax. 914-524-7771
Weekly Market Review |
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| Greetings!
I hope this email finds you doing well.
I realized this morning that, even though I had big plans to get a lot done around the house this weekend, I didn't get much done at all. Now, don't get me wrong, we all need a lazy weekend from time to time. However, I realized that the reason I accomplished so little over the weekend was really more a case of pure procrastination. I wish I could deny it but, in all honesty, I can't. Quite frankly, I rationalized the weekend away. "I'll clean the windows (inside & out) when it's not so muddy out", by the way two weeks ago it was the "it's too icy" out excuse. Although in the moment procrastination seems to be anything but procrastination. The fact remains, that I'm procrastinating and nothing else.
I know many people do the same thing when it comes to managing their investments and financial plan. It's not always a fun subject, so we find other ways to keep busy. This way we can, in good conscience, say to ourselves "I was just too busy". The problem here, unlike my windows, the longer anyone waits, the less likely they are to actually reach their goals. Let's get together soon and do a review of where you are now. We can then determine together what actions, if any, need to be taken to be sure you're on track to reach your goals.
Please give me a call and set up a time to do a review.
Fondly,
John
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| Market Commentary
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The Senate danced between "bipartisan support" and "political rancor" last week while it debated the merits of the president's economic stimulus package. The Democratic majority in the Senate was reluctant to bring the legislation to a vote, realizing that they might not have the sufficient 60 votes needed to prevent a Republican-led filibuster. As the weekend ended (and a commitment from 3 Republicans was secured to side with the Democrats), a vote was scheduled for Tuesday, setting the stage for a conference committee later this week to work out the differences between the House and Senate bills (source: AP).
Nearly 600,000 Americans lost jobs in January, the 4th highest monthly total in the nation's history. 3 million US workers have been laid off by employers in just the last 6 months (source: Department of Labor).
New Treasury Secretary Tim Geithner is expected to announce a government plan today that may remove depressed mortgage assets from the books of struggling US banks, an idea that has been discussed for months. The plan, designed to help our anemic housing industry, may also include yet another cash injection of hundreds of billions of dollars into multiple banks (source: AP).
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| Notable Numbers for the Week:
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1. RAISE MORE MONEY - The US government announced last Wednesday (2/04/09) that it will hold 8 auctions per year to borrow money through the issuance of 30-year Treasury bonds, double the 4 auctions per year that currently take place (source: Treasury Department).
2. THEY OWN A LOT - As of 9/30/98 (i.e., the end of fiscal year 1998), foreign ownership of US Treasury securities was $1.2 trillion or 37% of all publicly held debt. A decade later (i.e., 9/30/08), foreign ownership of US Treasury securities was $2.9 trillion or 49% of all publicly held debt (source: St. Louis Federal Reserve Bank).
3. JOBS - As of 1/31/09, the end of the first month of the Barack Obama administration, there were 12.7 million manufacturing jobs in the USA. As of 1/31/01, the end of the first month of the George Bush (# 43) administration, there were 18.2 million manufacturing jobs in the USA (source: Department of Labor).
4. 83% ARE OK - $1.8 trillion of the outstanding $10.6 trillion of mortgages in the USA (i.e., 17% of all mortgages) are considered to be "risky," i.e., the loans are either currently delinquent or likely to become delinquent in the future, or are currently somewhere in the foreclosure process (source: Federal Reserve, Rocky Mountain News). |
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At J. Pink Associates, we do comprehensive financial planning and wealth management for families and small businesses by getting to know the unique details of your financial world and thoughtfully crafting a strategy to identify and support your goals.
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This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed by NFP Securities, Inc. as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. The indices mentioned are unmanaged and cannot be directly invested into. Past performance does not guarantee future results. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market.
Securities and Investment Advisory Services offered through NFP Securities, Inc. a Broker/ Dealer, Member FINRA/ SIPC and a Federally Registered Investment Advisor.
NFP Securities, Inc. does not offer tax or legal advice
NFP Securities, Inc. Is not affiliated with J. Pink Associates, Inc., Financial Advisors
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