Randy C. Benning, CFP Presents:

CONSUMER SENTIMENT DECLINES JUST A BIT

Ending May at a mark of 97.1, the University of Michigan’s consumer sentiment index fell 0.6 points from its preliminary reading for the month. Economists polled by MarketWatch had forecast the gauge to remain at 97.7.¹

      

FEWER HOMES WERE BOUGHT IN APRIL

Both new and existing home sales tapered off last month. The National Association of Realtors said that resales fell 2.3% for April, while the Census Bureau announced an 11.4% retreat for new home purchases. While demand was high, tight supply reduced the number of buyers.²

 

FED MINUTES: Q1 SLUMP “LIKELY TO BE TRANSITORY”

With the Federal Open Market Committee expressing that exact opinion in the record of its May 2-3 meeting, investors saw little that would delay the central bank from raising interest rates in June. Still, the minutes sounded a cautious note. Fed policymakers “generally judged that it would be prudent to await additional evidence,” confirming that the winter economic slowdown was short lived prior to tightening further. The Bureau of Economic Analysis did revise its Q1 GDP estimate up to 1.2% last week, compared with an initial evaluation of 0.7%.^1,3

 

MORE RECORD HIGHS FOR NASDAQ, S&P 500

A great week for stocks saw gains of 2.08% for the Nasdaq Composite, 1.43% for the S&P 500, and 1.32% for the Dow Jones Industrial Average. Friday’s settlements: Dow, 21,080.28; S&P, 2,415.82; Nasdaq, 6,210.19. Friday’s S&P and Nasdaq closes were historic peaks for both indices. The S&P advanced for a seventh straight trading session to end the week, something it had not done since February. The Nasdaq 100 ended last week up 19.01% YTD.^4,5

 

THIS WEEK: Monday is Memorial Day – U.S. stock and bond markets will be closed. Tuesday, the April personal spending report and PCE price index appear. A new Federal Reserve Beige Book and the NAR’s April pending home sales report surface Wednesday, plus earnings from Analog Devices, Hewlett-Packard Enterprise, Michael Kors, and Palo Alto Networks. Thursday is heavy on jobs data, as investors look at the ADP payroll and Challenger job-cut reports and the latest initial claims numbers; ISM’s May factory PMI also arrives, along with earnings from Boot Barn, Broadcom, Dollar General, Express, Five Below, and Lululemon Athletica. Friday, the Department of Labor issues its May employment report, and Hovnanian announces earnings.

 

% CHANGE	Y-T-D	1-YR CHG	5-YR AVG	10-YR AVG
DJIA	+6.67	+18.24	+13.85	+5.61
NASDAQ	+15.36	+26.69	+23.77	+14.29
S&P 500	+7.91	+15.58	+16.66	+5.94
REAL YIELD	5/26 RATE	1 YR AGO	5 YRS AGO	10 YRS AGO
10 YR TIPS	0.44%	0.25%	-0.38%	2.49%

Randy C. Benning, CFP®, President, License # 0816882, Benning Financial Group, LLC. Investment Advisory Services offered through Benning Financial Group, LLC, A Registered Investment Advisor, Benning Financial Group, LLC, is not affiliated with Triad Advisors. Securities offered through Triad Advisors Member FINRA, SIPC

Sources: wsj.com, bigcharts.com, treasury.gov – 5/26/17^5,6,7,8

Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends. 10-year TIPS real yield = projected return at maturity given expected inflation.

---

Citations.

1 – marketwatch.com/economy-politics/calendars/economic [5/26/17]

2 – foxbusiness.com/features/2017/05/24/existing-home-sales-slip-as-housing-shortage-weighs-on-activity-update.html [5/24/17]

3 – nytimes.com/2017/05/24/business/economy/fed-interest-rates-minutes.html [5/24/17]

4 – reuters.com/article/us-usa-stocks-idUSKBN18M18R [5/26/17]

5 – markets.wsj.com/us [5/26/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F26%2F16&x=0&y=0 [5/26/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F26%2F16&x=0&y=0 [5/26/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F26%2F16&x=0&y=0 [5/26/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F25%2F12&x=0&y=0 [5/26/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F25%2F12&x=0&y=0 [5/26/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F25%2F12&x=0&y=0 [5/26/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F25%2F07&x=0&y=0 [5/26/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F25%2F07&x=0&y=0 [5/26/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F25%2F07&x=0&y=0 [5/26/17]

7 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [5/26/17]

8 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [5/26/17]

Randy C. Benning, CFP Presents:

CONSTRUCTION ACTIVITY SLOWED IN APRIL

Against expectations, both housing starts and building permits declined in the fourth month of the year. Newly released Census Bureau data shows a 2.5% retreat for permits and a 2.6% pullback for starts last month. The key factors: a 9.2% drop in starts for multi-family projects (which have declined for four straight months) and a 4.5% fall for single-family permits.¹

        

INDUSTRIAL OUTPUT SURGES

Economists polled by Briefing.com expected industrial production to rise 0.3% in April, following a 0.4% advance in March. The number surprised to the upside – the Federal Reserve reported a 1.0% improvement.²

 

GOLD & WTI CRUDE STAGE MAJOR RALLIES

As both stocks and the dollar hit a rough patch last week, investors turned to commodities. Gold advanced 2.1% on the COMEX in five trading days, settling at $1,253.60 Friday. Oil gained a little more than 5% for the week to a Friday close of $50.33 on the belief that OPEC would extend its current production cut.^3,4

 

STOCKS FINISH A CHOPPY WEEK LOWER

Wall Street took a plunge Wednesday on political concerns, then rebounded for two days. Still, all three major indices saw 5-day retreats. The Nasdaq Composite lost 0.61%; the Dow Jones Industrial Average, 0.44%; and the S&P 500, 0.38%. Friday, the big three settled as follows: Dow, 20,804.84; S&P, 2,381.73; Nasdaq, 6,083.70.⁵

 

THIS WEEK: On Monday, earnings results roll in from Agilent Technologies, America’s Car-Mart, Booz Allen Hamilton, Sportsman’s Warehouse, and Valspar. Tuesday, the April new home sales report complements earnings news from AutoZone, Container Store, Cracker Barrel Old Country Store, DSW, Intuit, Kirkland’s, Popeyes, Take-Two Interactive, and Toll Brothers. On Wednesday, existing home sales numbers appear along with minutes from this month’s Federal Reserve policy meeting and earnings from Advance Auto Parts, Chico’s FAS, Fred’s, Guess?, HP, Lowe’s, Sears Holdings, and Williams-Sonoma. A new initial claims report arrives Thursday, plus earnings news from Abercrombie & Fitch, Best Buy, Burlington Stores, Costco, Dollar Tree, GameStop, Hormel Foods, Lions Gate, Medtronic, Shoe Carnival, and Toro. Friday offers the second estimate of first quarter GDP, the final May University of Michigan consumer sentiment index, data on April hard goods orders, and Q1 results from Big Lots.

 

% CHANGE	Y-T-D	1-YR CHG	5-YR AVG	10-YR AVG
DJIA	+5.27	+19.33	+13.64	+5.35
NASDAQ	+13.01	+29.10	+23.79	+13.78
S&P 500	+6.38	+16.75	+16.78	+5.64
REAL YIELD	5/19 RATE	1 YR AGO	5 YRS AGO	10 YRS AGO
10 YR TIPS	0.41%	0.29%	-0.39%	2.46%

Randy C. Benning, CFP®, President, License # 0816882, Benning Financial Group, LLC. Investment Advisory Services offered through Benning Financial Group, LLC, A Registered Investment Advisor, Benning Financial Group, LLC, is not affiliated with Triad Advisors. Securities offered through Triad Advisors Member FINRA, SIPC

Sources: wsj.com, bigcharts.com, treasury.gov – 5/19/17^5,6,7,8

Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends. 10-year TIPS real yield = projected return at maturity given expected inflation.

---

Citations.

1 – businessinsider.com/us-housing-starts-and-building-permits-fall-in-april-2017-5 [5/16/17]

2 – briefing.com/investor/calendars/economic/2017/05/15-19 [5/19/17]

3 – marketwatch.com/story/gold-prices-climb-more-than-2-for-the-week-2017-05-19 [5/19/17]

4 – marketwatch.com/story/oil-prices-score-a-more-than-5-advance-for-the-week-2017-05-19 [5/19/17]

5 – markets.wsj.com/us [5/19/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F19%2F16&x=0&y=0 [5/19/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F19%2F16&x=0&y=0 [5/19/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F19%2F16&x=0&y=0 [5/19/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F18%2F12&x=0&y=0 [5/19/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F18%2F12&x=0&y=0 [5/19/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F18%2F12&x=0&y=0 [5/19/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F18%2F07&x=0&y=0 [5/19/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F18%2F07&x=0&y=0 [5/19/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F18%2F07&x=0&y=0 [5/19/17]

7 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [5/19/17]

8 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [5/19/17]

Randy C. Benning, CFP Presents:

A SOLID RETAIL SALES READING

Americans bought more in April. The pace of retail purchases hastened by 0.4% last month, and the Bureau of Economic Analysis revised the 0.2% March retreat into a 0.1% gain. Headline retail sales were up 4.5% across the 12 months ending in April. Core retail sales rose 0.3% in the fourth month of the year.^1,2

    

INFLATION PICKS UP AS SPRING ARRIVES

After falling 0.3% for March, the Consumer Price Index rose 0.2% last month. (The major factor: a 1.1% leap for energy costs.) This increase left annualized inflation at 2.2%. The core CPI (minus food and energy prices) advanced 0.1% in April. On the wholesale front, the Producer Price Index jumped up 0.5% in April, taking its year-over-year advance to 2.5%.^1,2

 

A GAIN FOR A CONSUMER SENTIMENT INDEX

The University of Michigan’s monthly barometer of household sentiment rose 0.7 points in its preliminary May reading to a mark of 97.7. Its consumer expectations component advanced 1.1 points to a reading of 88.1.²

 

MAJOR INDICES RIDE THROUGH A MIXED WEEK

Earnings misses from big retailers weighed on the S&P 500, which declined 0.35% across five trading sessions to a 2,390.90 Friday close. The Dow Jones Industrial Average gave back 0.53% in the same time frame, ending the week at 20,896.61. The Nasdaq Composite, however, advanced 0.34% last week to 6,121.23. At the closing bell Friday, all three indices were up 2.1% or more for the month.³

 

THIS WEEK: Monday, Cumulus Media presents Q1 results. Dick’s Sporting Goods, Home Depot, Jack in the Box, Red Robin, Staples, TJX Companies, Urban Outfitters, and Weibo announce earnings Tuesday, as investors also consider data on April industrial output, housing starts, and building permits. On Wednesday, the earnings parade features American Eagle Outfitters, Cisco, L Brands, Stein Mart, and Target. Thursday, Wall Street looks at the Department of Labor’s latest initial jobless claims numbers, the Conference Board’s April leading indicators index, and earnings from Alibaba, Applied Materials, Autodesk, Gap, Perry Ellis, Ralph Lauren, Ross Stores, Stage Stores, and Walmart. Earnings announcements from Campbell Soup, Deere, and Foot Locker arrive Friday.

 

% CHANGE	Y-T-D	1-YR CHG	5-YR AVG	10-YR AVG
DJIA	+5.74	+17.92	+12.60	+5.68
NASDAQ	+13.71	+29.21	+21.73	+13.89
S&P 500	+6.79	+15.83	+15.33	+5.88
REAL YIELD	5/12 RATE	1 YR AGO	5 YRS AGO	10 YRS AGO
10 YR TIPS	0.49%	0.15%	-0.28%	2.30%

Randy C. Benning, CFP®, President, License # 0816882, Benning Financial Group, LLC. Investment Advisory Services offered through Benning Financial Group, LLC, A Registered Investment Advisor, Benning Financial Group, LLC, is not affiliated with Triad Advisors. Securities offered through Triad Advisors Member FINRA, SIPC

Sources: wsj.com, bigcharts.com, treasury.gov – 5/12/17^3,4,5,6

Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends. 10-year TIPS real yield = projected return at maturity given expected inflation.

---

Citations.

1 – thestreet.com/story/14132954/1/s-amp-p-500-dow-decline-after-retail-sales-rebound-buoys-rate-hike-odds.html [5/12/17]

2 – investing.com/economic-calendar/ [5/12/17]

3 – markets.wsj.com/us [5/12/17]

4 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F12%2F16&x=0&y=0 [5/12/17]

4 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F12%2F16&x=0&y=0 [5/12/17]

4 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F12%2F16&x=0&y=0 [5/12/17]

4 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F11%2F12&x=0&y=0 [5/12/17]

4 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F11%2F12&x=0&y=0 [5/12/17]

4 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F11%2F12&x=0&y=0 [5/12/17]

4 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F11%2F07&x=0&y=0 [5/12/17]

4 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F11%2F07&x=0&y=0 [5/12/17]

4 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F11%2F07&x=0&y=0 [5/12/17]

5 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [5/12/17]

6 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [5/12/17]

Randy C. Benning, CFP Presents:

NEW DATA SHOWS MORE HIRING, LESS SPENDING

Unemployment hit a 10-year low in April as payrolls swelled with 211,000 net new jobs, a rebound from the meager gains of March. The Department of Labor’s monthly report showed the headline jobless rate declining 0.1% to 4.4%; the U-6 rate measuring underemployment was at 8.6%, falling 0.3%. The latest consumer spending report from the Department of Commerce was less impressive. Personal spending was flat in March, with personal incomes up 0.2%.^1,2

       

ISM PMIS WENT OPPOSITE WAYS IN APRIL

America’s factory sector grew at a slower rate last month than it did during March, while the country’s service sector picked up its pace of expansion. The Institute for Supply Management’s April purchasing manager index dipped to 54.8 from its previous 57.2 mark; ISM’s non-manufacturing PMI rose 2.3 points in April to 57.5.²

 

FEDERAL RESERVE LEAVES RATES ALONE

As expected, the central bank left the benchmark interest rate in the 0.75-1.00% target range last week. The Federal Open Market Committee felt that the poor economic growth of the first quarter was likely “transitory,” and in its view, economic activity should “expand at a moderate pace” with “gradual” monetary policy adjustments. On May 5, Fed futures traders put the odds of a June rate hike at 79%.^3,4

 

BLUE CHIPS TOP 21,000

The Dow Jones Industrial Average reached another milestone Friday, settling at 21,006.94 after rising 0.32% on the week. Slightly better 5-day performances were posted by the Nasdaq Composite (+0.88% to 6,100.76) and the S&P 500 (+0.63 to 2,399.29). Small caps lost 0.25% for the week – the Russell 2000 closed at 1,397.00 Friday. During the past five market days, the CBOE VIX retreated 2.31% to 10.57.⁵

 

THIS WEEK: Investors will keep an eye on France’s national election Monday, and review earnings from Sysco and Tyson Foods. On Tuesday, earnings roll in from Allergan, Discovery Communications, and Valeant Pharmaceuticals. Wednesday features earnings from Dillard’s, NetEase, Snap, Sotheby’s, Spectra Energy, Symantec, Wendy’s, and Whole Foods. Thursday offers the federal government’s latest reading on wholesale inflation, a new initial jobless claims report, and earnings from Kohl’s, Macy’s, and Nordstrom. April retail sales and consumer inflation data appear Friday, plus the University of Michigan’s initial May consumer sentiment index and earnings news from JCPenney.

 

% CHANGE	Y-T-D	1-YR CHG	5-YR AVG	10-YR AVG
DJIA	+6.30	+18.95	+12.22	+5.84
NASDAQ	+13.33	+29.33	+21.27	+13.72
S&P 500	+7.17	+17.00	+15.05	+5.94
REAL YIELD	5/5 RATE	1 YR AGO	5 YRS AGO	10 YRS AGO
10 YR TIPS	0.50%	0.13%	-0.30%	2.24%

Randy C. Benning, CFP®, President, License # 0816882, Benning Financial Group, LLC. Investment Advisory Services offered through Benning Financial Group, LLC, A Registered Investment Advisor, Benning Financial Group, LLC, is not affiliated with Triad Advisors. Securities offered through Triad Advisors Member FINRA, SIPC

Sources: wsj.com, bigcharts.com, treasury.gov – 5/5/17^6,7,8,9

Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends. 10-year TIPS real yield = projected return at maturity given expected inflation.

---

Citations.

1 – investing.com/news/economic-indicators/u.s.-unemployment-rate-hits-10-year-low-as-job-creation-beats-consensus-480556 [5/5/17]

2 – marketwatch.com/economy-politics/calendars/economic [5/5/17]

3 – tinyurl.com/lkrmt8w [5/3/17]

4 – cmegroup.com/trading/interest-rates/countdown-to-fomc.html [5/5/17]

5 – markets.wsj.com/us [5/5/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F5%2F16&x=0&y=0 [5/5/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F5%2F16&x=0&y=0 [5/5/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F5%2F16&x=0&y=0 [5/5/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F4%2F12&x=0&y=0 [5/5/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F4%2F12&x=0&y=0 [5/5/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F4%2F12&x=0&y=0 [5/5/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=5%2F4%2F07&x=0&y=0 [5/5/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=5%2F4%2F07&x=0&y=0 [5/5/17]

6 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=5%2F4%2F07&x=0&y=0 [5/5/17]

7 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [5/5/17]

8 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [5/5/17]

Randy C. Benning, CFP Presents:

CONSUMER CONFIDENCE DIPS SLIGHTLY

The University of Michigan and Conference Board consumer confidence indices descended a little last month, but remained in great shape. The CB index displayed an April reading of 120.6, down from 124.9 in March. Slipping a point from its initial April mark, the Michigan barometer fell to 97.0.¹

       

LATEST HOUSING DATA IS MOSTLY POSITIVE

New home sales rose 5.8% in March, the Census Bureau noted last week; headline sales were 15.6% improved from a year earlier. The latest 20-city S&P/Case-Shiller home price index (January) showed 5.8% average yearly house price appreciation, up from 5.6% in December. Pending home sales retreated 0.8% in March, the National Association of Realtors reported.^1,2

 

FIRST QUARTER SAW LITTLE ECONOMIC GROWTH

According to the Bureau of Economic Analysis, America’s economy expanded at a pace of 0.7% in Q1, well below the 2.1% growth seen in Q4. Economists polled by MarketWatch had projected a 0.8% Q1 GDP reading.¹

 

NASDAQ POSTS SIXTH WINNING MONTH IN A ROW

The tech benchmark added 2.32% this past week and 2.30% for April, shattering the 6,000 ceiling in the process. Upbeat earnings news and talk of corporate tax cuts also aided the S&P 500 – that index rose 0.91% for April, capping things off with a 1.51% weekly gain. How did the blue chips perform? The Dow advanced 1.34% on the month and 1.91% during April’s last five trading sessions. Friday, the big three settled like so: Dow, 20,940.51; Nasdaq, 6,047.61; S&P, 2,384.20.^3,4

 

THIS WEEK: Monday, investors study March personal spending figures, ISM’s April factory PMI, and earnings from Edison International. Earnings announcements from Altria, Anadarko Petroleum, Apple, ConocoPhillips, Cummins, Gilead Sciences, Hilton Worldwide, MasterCard, Merck, PG&E, Pfizer, and Twenty-First Century Fox appear Tuesday. Wednesday, the Street considers the latest Federal Reserve policy statement, ISM’s March service sector index, the April ADP payrolls report, and earnings from Alibaba, Allstate, Estee Lauder, Facebook, Humana, Kraft Heinz, MetLife, Prudential Financial, Tesla, Time Warner, and Yum! Brands. Thursday offers a new Challenger job-cut report, initial jobless claims numbers, and earnings from Activision Blizzard, Anheuser-Busch, Berkshire Hathaway, Occidental Petroleum, and Viacom. March employment figures are out Friday, along with earnings from Cigna; also, Federal Reserve chair Janet Yellen speaks at Brown University in Rhode Island.

 

% CHANGE	Y-T-D	1-YR CHG	5-YR AVG	10-YR AVG
DJIA	+5.96	+17.44	+11.66	+5.96
NASDAQ	+12.34	+25.85	+19.41	+13.65
S&P 500	+6.49	+14.86	+13.98	+5.96
REAL YIELD	4/28 RATE	1 YR AGO	5 YRS AGO	10 YRS AGO
10 YR TIPS	0.37%	0.12%	-0.30%	2.25%

Randy C. Benning, CFP®, President, License # 0816882, Benning Financial Group, LLC. Investment Advisory Services offered through Benning Financial Group, LLC, A Registered Investment Advisor, Benning Financial Group, LLC, is not affiliated with Triad Advisors. Securities offered through Triad Advisors Member FINRA, SIPC

Sources: wsj.com, bigcharts.com, treasury.gov – 4/28/17^4,5,6,7

Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends. 10-year TIPS real yield = projected return at maturity given expected inflation.

---

Citations.

1 – marketwatch.com/economy-politics/calendars/economic [4/28/17]

2 – blogs.barrons.com/incomeinvesting/2017/04/25/new-home-sales-move-into-higher-gear/ [4/28/17]

3 – marketwatch.com/story/us-stocks-face-a-muted-start-even-as-amazon-alphabet-get-set-to-roar-2017-04-28/ [4/28/17]

4 – markets.wsj.com/us [4/28/17]

5 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F28%2F16&x=0&y=0 [4/28/17]

5 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F28%2F16&x=0&y=0 [4/28/17]

5 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F28%2F16&x=0&y=0 [4/28/17]

5 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F27%2F12&x=0&y=0 [4/28/17]

5 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F27%2F12&x=0&y=0 [4/28/17]

5 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F27%2F12&x=0&y=0 [4/28/17]

5 – bigcharts.marketwatch.com/historical/default.asp?symb=DJIA&closeDate=4%2F27%2F07&x=0&y=0 [4/28/17]

5 – bigcharts.marketwatch.com/historical/default.asp?symb=COMP&closeDate=4%2F27%2F07&x=0&y=0 [4/28/17]

5 – bigcharts.marketwatch.com/historical/default.asp?symb=SPX&closeDate=4%2F27%2F07&x=0&y=0 [4/28/17]

6 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield [4/28/17]

7 – treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyieldAll [4/28/17]