The manufacturing sector closed 2012 on an upbeat note, according to today’s December report for the ISM Manufacturing Index. This widely followed benchmark rose to 50.7, up from 49.5 in November. A reading above 50 is considered a sign of growth and so the manufacturing sector overall is again leaning towards the forces of light rather than darkness, if only slightly.
Monthly Archives: January 2013
Major Asset Classes | December 2012 | Performance Review
The year just passed was kind to investors holding risky assets. The Global Market Index (GMI), a passive benchmark that holds a broad mix of the world’s major asset classes, posted a strong 11.0% total return in 2012. That’s a sharp rebound from 2011’s disappointing 1.1% decline.
A Sober New Year…
It seems that we have a new fiscal deal in a new year. For the moment, at least: “U.S. President Barack Obama and Senate leaders Monday reached a New Year’s budget agreement that would let income-tax rates rise for the first time in nearly 20 years, maintain unemployment benefits for millions of people and blunt the impact of spending cuts that were looming as part of the so-called ‘fiscal cliff.'” A hair of the fiscal dog, one might say. Well, it’s been a good year so far. Of course, the legislation still has to receive the green light from the House. Better keep that extra bottle of bubbly handy, just in case. The only question: Will we need it to celebrate or mourn? Stay tuned….