Protect...Grow...Repeat

Market & Economic Brief

Summer 2010

GLOBAL STOCKS
Stocks generally ended the first half of 2010 under pressure. The S&P 500 was down -7.5% and the MSCI Developed Country index declined -15.8%. Q2 earnings reports are expected to be strong but forward guidance is less certain. Leading companies held up surprisingly well as markets sold off.

WORLD ECONOMY
Leading economic leading indicators produced by ECRI continue to signal a slowdown in the U.S. economy but will need to deteriorate further before signaling another recession.

INFLATION DATA
Broad inflation pressure appears to be contained and interest rates remain very low.

U.S. RESIDENTIAL HOUSING
After a pick-up earlier in the year, home sales appear to have slowed after the expiration of the home buyer credit at the end of April in most U.S. markets.

PLANNING
New conversion rules for ROTH IRA's in 2010 may present a unique planning opportunity.

Potential tax changes in 2011 are reason to review tax strategy in 2010.

Webinars

If you would like to be notified about upcoming online presentations, to send us an email or call 206-652-8300.

MONTHLY STRATEGY REVIEW

Please join Brian Dightman for a 30-minute presentation during which he will discuss his near-term investment outlook and any recent investment changes he has made to his investment strategies. He will also review the current individual investments held in strategies he manages and the performance of client account composites.

Date: Wednesday, July 21, 2010

Morning Session
Time: 8:30 AM - 9:00 AM PST
Space is limited.
Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/209245963

Date: Wednesday, July 21, 2010

Afternoon Session
Time: 12:30 PM - 1:00 PM PST
Space is limited.
Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/454872394

After registering you will receive a confirmation email containing information about joining the Webinar.

System Requirements
PC-based attendees
Required: Windows® 2000, XP Home, XP Pro, 2003 Server, Vista

Macintosh®-based attendees
Required: Mac OSR X 10.4 (Tiger®) or newer