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WEEKLY QUOTE
The best revenge is massive success. - Frank Sinatra
WEEKLY TIP
Take a tip from the millionaire next door: buy a terrific lowmaintenance car and drive it for several years or more. Your ride may not be flashy, but the choice may prove thrifty.
On Friday, the Census Bureau announced an unexpected 13.4% drop in new home purchases for July. In contrast to that news, the National Association of Realtors stated that existing home sales rose 6.5% last month. So what is the takeaway here? Most new home purchase contracts close months in the future, and many buyers of existing homes may have locked in the rates of home loans in spring. Is the dip in new home buying a direct, alarming reflection of the recent jump in mortgage rates? Will it give the Federal Reserve pause about tapering? 1
The 0.6% increase in the Conference Board Leading Economic Index was a nice change after its flat June reading. The LEI now stands at 96.0, edging closer to its original mark of 100. From February to July, it rose 2.0%; in the preceding six months, it rose 1.1%.2
WEEKLY RIDDLE
It stands higher than any tree, yet it seemingly takes forever to grow and you cant see its roots. To reach its top, you wont have to shimmy up any trunk. What is it?
Last weeks riddle: There are three cups of flour on a counter and you take one away. How many cups of flour do you have now? Last weeks answer: One, as you have taken one away.
Fridays COMEX settlement price was the highest since June: $1,395.80 per ounce. The troubling news about new home sales may have had an effect. NYMEX crude also gained $1.39 Friday, settling at $106.42.3
10 YR TIPS
0.69%
-0.62%
1.69%
2.26%
5,6,7,8
Sources: usatoday.com, bigcharts.com, treasury.gov - 8/23/13 Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends.
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Citations.
1 - nasdaq.com/article/what-happened-to-new-home-sales-real-time-insight-cm269852 [8/23/13] 2 - tinyurl.com/lhm84lb [8/22/13] 3 - abcnews.go.com/Business/wireStory/corn-prices-drop-percent-metals-oil-rise-20041509 [8/23/13] 4 - thestreet.com/story/12017038/1/stocks-opens-higher-as-microsoft-jumps.html [8/23/13] 5 - usatoday.idmanagedsolutions.com/stocks/overview.idms?index=DJIA [8/23/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=8%2F23%2F12&x=0&y=0 [8/23/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=8%2F23%2F12&x=0&y=0 [8/23/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=8%2F23%2F12&x=0&y=0 [8/23/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=8%2F22%2F08&x=0&y=0 [8/23/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=8%2F22%2F08&x=0&y=0 [8/23/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=8%2F22%2F08&x=0&y=0 [8/23/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=8%2F22%2F03&x=0&y=0 [8/23/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=8%2F22%2F03&x=0&y=0 [8/23/13] 6 - bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=8%2F22%2F03&x=0&y=0 [8/23/13] 7 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [8/23/13] 8 - treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [8/23/13]
Partner
Premier Planning Group 115 West Street, Suite 400 Annapolis, Maryland 21401 http://www.premierplanninggroup.com/#!doug-potash/c8x7 Phone: 443-837-2550 Cell: 443-994-1897 Fax: 410-216-9515
Doug Potash is a Registered Representative offering securities through Cambridge Investment Research, Inc., Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a federally registered investment advisor. Cambridge and Premier Planning Group are not affiliated.