FINANCIAL INSIGHTS ARCHIVES (2013 Year Continued...)
Quarterly Report: First Quarter 2013
April 4th, 2013
2013 is in full swing, and it is already shaping up to be an eventful year. The US narrowly avoided diving off the Fiscal Cliff at the end of 2012, and the Federal Government entered into the Sequester, which has led to automatic spending cuts to total $85 billion. The austerity measures throughout the European Union continue to impact volatility abroad, but the international markets as a whole are positive. With all this uncertainty created by the governments throughout the world, we are still seeing the media popular Dow Jones reach new record highs and the S&P 500 edging closer to the same.
The economic snapshot reveals that the overall health of the economy remains fragile, but, as some positive data shows, US economy continues to recover slowly. U.S. families’ net worth is the highest since late 2007, which is attributed to the positive market gains and upward growth of real estate value. The jobless rate is at a four-year low of 7.7%, with the U.S. adding 236,000 jobs in February. Inflation is up 2% and GDP growth is nearly stagnant. The Federal Reserve has stated that they will continue to pump money into the economy via quantitative easing (QE). Even with all the noise going on behind the scenes, one thing is certain, the financial markets are producing solid positive returns this quarter.
At Petersen Hastings, we continue to follow our Evidence-Based Investment strategy of diversifying asset classes, risk-management, and rebalancing to adjust our clients’ portfolios based on individual investment objectives. Our evidence based investment philosophy remains steady in times of uncertainty, stability, and up-and-down markets, demonstrating its value with the achievement of your goals.
Petersen Hastings News
As part of Petersen Hastings’ growing digital media initiative to provide greater frequency of insight on financial topics as they relate to you, we are excited to announce our new email newsletter, which should already be in your inbox. Some of the content to expect in the newsletter is the “CEO Report” from CEO Jeff Petersen, which is also attached to this quarterly commentary. If you did not receive the newsletter this quarter and would like to, please email us at firstname.lastname@example.org or give us a call. Please visit our “Financial Insights Articles” section on our website, which is updated twice a month with articles written by the Petersen Hastings team.
Thank you for allowing us to serve you.