Domestic equity markets were mostly flat last week while international markets were relatively weaker due, in large part, to a stronger dollar.
Also, treasuries’ strong performance slowed last week, as the 2-year, 10-year, and long bond came off their lowest levels in a month. Read more in our Weekly Market Summary.
The anticipated relief rally in equities after the news of Osama Bin Laden’s death never really materialized, and markets slid lower last week on poor economic news.
A much better-than-expected jobs number on Friday gave equity markets a boost, but it was not enough to offset weakness from earlier in the week. Read more in this week’s Market Summary (PDF, new window)
For the first time ever, the chairman of the Federal Reserve spoke last week to a national audience regarding the Federal Open Market Committee’s (FOMC) monetary policy.
Equity markets shrugged off the press conference as a nonevent, but they did move sharply higher on strong earnings results. 2011 estimates for the S&P 500 have been slowly creeping toward $100 per share.
Read more in our Weekly Market Summary. (PDF, new window)
The 10-year Treasury ended the week where it started, close to its 3.40-percent support level. The negative outlook for the U.S. government issued by Standard & Poor’s had less impact than expected, as the larger part of the curve was little changed from the previous week. Read more in this week’s Market Summary (PDF, new window).
Certified Financial Planner Board of Standards, Inc. has announced its “Let’s Make a Plan” Public Awareness Campaign, designed to help educate Americans about the importance of sound financial planning and raise awareness about the significance of the CFP® certification and the need for competent and ethical financial planning.
Allen Insurance and Financial is supporting this effort in his/her/their local community by encouraging people to learn more about CFP® certification and financial planning.
“People are pulled in so many different directions when it comes to their finances, but a CFP® professional is uniquely qualified to pull all the pieces together and provide a comprehensive evaluation that looks at the whole picture of a person’s financial life,” said Charles Moran, CFP®, 2011 Chair of CFP Board’s Board of Directors.
The integrated campaign includes national cable television and online advertising in addition to its print advertising.
Click View YouTube Video (in a new window)
A public service website – www.LetsMakeaPlan.org – will serve as a core feature of the campaign, where consumers can learn about financial planning, the personalized approach CFP® professionals provide and find a local CFP® professional through a search function.
The Board of Directors approved the four-year, $36 million campaign in November 2010 partly in response to many CFP® professionals who want the public to understand the important role they play in educating Americans on their financial well-being and helping people meet their life goals. The campaign will help provide clarity to consumers who are looking toward designations and certifications to provide guidance on choosing a financial planner or advisor.
“The CFP® mark truly serves as the gold standard for personal financial planning,” said CFP Board CEO Kevin R. Keller, CAE. “Just about anyone can use the term ‘financial planner.’ But only those individuals who have passed a rigorous set of criteria and meet our strict ethical qualifications can call themselves a CFP® professional.”
This is the first large-scale Public Awareness Campaign the organization has underwritten. For more information on the campaign and to find a CFP® professional, visit the public service website at www.LetsMakeAPlan.org.
ABOUT CFP BOARD
The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. The Board of Directors, in furthering CFP Board’s mission, acts on behalf of the public, CFP® professionals and other stakeholders. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and the federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements. CFP Board currently authorizes nearly 63,000 individuals to use these marks in the U.S.
ABOUT ALLEN INSURANCE AND FINANCIAL
Allen Insurance and Financial is an employee-owned insurance, employee benefits, and financial services company with offices in Camden, Rockland and Southwest Harbor. Call 800-439-4311.
Treasuries continued their recent selloff, as the 10-year pushed up to 3.45 percent late last week. The 2-year was up to 0.782 percent, and the 30-year moved to 4.50 percent.
Equities gained ground for a second week due to stronger macroeconomic news. Many indices have been sitting at or near 52-week highs.
You have plenty to worry about with home ownership, but keeping on top of potential water problems can save you buckets of money. Even a small leak can become a major problem, so take a moment to become educated on easy ways to prevent small leaks from turning into huge headaches.
Regular home maintenance can help you uncover potential water damage problems before they start. Drips can be sneaky, but we can help you outsmart them.
Building Hope’s Future in Science, the volunteer group raising money to build a science lab in the middle school wing at Hope Elementary School, recently received a donation from Allen Insurance and Financial of Camden.
The Hope group has been reaching out to local businesses as they work to raise the $136,000 needed to fund this project. A matching grant has been donated when the group reaches the $50,000 mark. The result of this effort will be the school’s first fully-equipped science lab.
“We are pleased to be able to support this important education initiative,” said Gilbert Fifield, president Allen Insurance and Financial.
The Hope Elementary School website includes additional information about this project: hopees.u69.k12.me.us.
Image caption: From left, GIlbert Fifield, president, Allen Insurance and Financial of Camden; Carol Hathorne, principal, Hope Elementary School and Erik Wade, middle school science teacher, Hope Elementary.
Equity markets dropped again last week, driven lower by escalating tensions in Libya and the devastating impact of the earthquake and tsunami in Japan. Read the complete market summary.
