From: FutureAdvisor <advisor@futureadvisor.com>
Date: Sun, Apr 12, 2015 at 12:48 AM
Subject: Your Weekly Update - Refining Your Allocation For The Long Term
To: mrpiebald@gmail.com
Weekly Market RecapThis week in the US saw good news on both the US economy generally and employment specifically. It appears to us that US manufacturing may have hit a soft patch, but the remainder of the US economy has a solid footing. The Federal Reserve released minutes from their last meeting. This lead to renewed speculation on when a rate increase may occur. As a reminder, we believe our recommended portfolio is well-diversified for such moves. Trying to gain an advantage by predicting the Fed's actions is more likely to lead to higher trading costs than higher returns in our view. The International Monetary Fund (IMF) released a relatively downbeat World Economic Outlook this week, arguing that the lower rate of global growth seen in past years may be permanent. In particular, the IMF point to falling global growth forecasts during each of the past 4 years. However, the report also highlights the significant contribution that emerging markets, especially China, have made in contributing to growth. This is one of the reasons we believe emerging market exposure is an important part of global portfolios. Oil price has started to rise from some of the lows it hit in recent months. This is likely due to the planned nuclear deal with Iran, which has the potential to reduce tensions in the Middle East, a key region for oil production. Also, this week European energy company Shell announced plans to merge with BG Group, potentially creating an energy producer larger than Exxon Mobil, currently the world's largest by market capitalization. The views expressed herein are not intended to serve as a forecast, a guarantee of future results, investment recommendations or an offer to buy or sell securities by FutureAdvisor. Differences in account size, timing of transactions and market conditions prevailing at the time of investment may lead to different results, and clients may lose money. Past performance is not indicative of future results. Your Portfolio Summary
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