U.S. equities fell this week for the first time since August amid concern the budget impasse in Washington will hinder economic growth. The government’s spending authority will expire on September 30th without a continuing resolution being approved by both the U.S. House of Representatives and the U.S. Senate. Continue reading
Monthly Archives: September 2013
Federal Reserve Maintains Accommodative Stance
The Federal Reserve unexpectedly refrained from reducing the $85 billion pace of monthly bond buying, saying it needs more evidence of sustainable improvement in the economy and warning that an increase in interest rates threatened to curb the expansion. Continue reading
Investors have been mostly upbeat in September as concerns surrounding the Federal Reserve’s potential tapering of their current asset purchase program have been muted and tensions in Syria seem to have eased.
Investors have been keeping tabs on a batch of economic reports this week. Continue reading
All Eyes on US in G20 Summit
The G20 Summit was held in Russia this week as nations leaders met to discuss the health of the global economy. The consensus heard from both developed and emerging nations alike was a call for clear and concise communication on a US timetable for monetary policy changes that could have global ramifications. Also on the agenda was discussions on the best course of action in response to the attacks in Syria. There has been opposition to an American military strike and some leaders suggest that any actions should be determined and sanctioned by the U.N. Continue reading
President Obama unveiled his budget proposal recently for the upcoming fiscal year, which begins on October 1st. This also corresponds to the date the government is expected to run out of money and Congress will be forced to approve a continuing resolution to avoid a government shutdown.
Below are a few highlights of President Obama’s proposals that could have financial implications for our clients. We do not necessarily believe these proposals will be implemented but we do feel it is important to be cognizant of what is being proposed. Continue reading