Weekly Market Recap In the US, housing starts for March were weak, but existing home sales came in better than expected. This led to a slightly improving housing picture in aggregate, which can be a positive for the broader economy. The oil price remained over $40 per barrel, despite the collapse of an expected deal between major overseas oil producers to freeze output. The oil price is well above the lows of February, which was barely over $26 per barrel. Globally, the International Monetary Fund (IMF) recently updated their economic forecasts, notching down overall growth a fraction to 3.2% for 2016. The IMF called the global economy "subdued", based in part on slowing trade and investment. However, one positive was China, where the growth forecast was revised up slightly, with China expected to be the second fastest growing major economy in 2016 behind India. With tax season in the rear-view mirror, it can be useful to get your 2016 financial planning in order so that you don't have to scramble to make either tax day or end of year deadlines. We believe sustainable saving is a steady, ongoing process. For example, if you have a 401(k) or similar plan, now can be a good time to see if your contribution level is where you want it. If it's lower than you would like, perhaps make an incremental increase of 0.5% to 1% of your eligible pay now to help you reach your savings goal this calendar year. These small increases, if done annually, can really add up over time and if you are eligible for a company match of your 401(k) contributions, then that can magnify the impact of your saving. Notes:
Failed Oil Deal:
http://www.reuters.com/article/us-oil-meeting-deal-idUSKCN0XF2B3
IMF April 2016 Growth Forecast
http://www.imf.org/external/pubs/ft/weo/2016/01/ Disclaimer:
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