On a monthly basis, Plante Moran Financial Advisors publishes Market Perspectives, an update on market and economic news. We also publish additional periodic market commentaries and research notes that can be found on our blog. We hope you'll find the information and insights of value. If, for some reason, you can't find what you're looking for, please feel free to contact us; we'll be glad to help.
June 2013 - Executive Summary
Although volatility re-emerged in May, domestic equities extended their rally, ending the month higher. A strengthening dollar erased the modest local currency gains of international equities for U.S.-based investors.
- The yield curve steepened on concerns the Fed may begin tapering its asset purchases. Rising rates contributed to negative returns for bonds in May.
- Inflation surprised to the downside in April, as inflationary pressures remain below the Fed’s target.
- The employment market had mixed results in May. Job creation was generally in line with expectations, while the unemployment rate ticked fractionally higher. The combination of limited inflation concerns and elevated joblessness should leave the Fed ample room to maintain its accommodative stance.