Financial News and Portfolio Management Discussion through September 27th

All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.

US stocks ended a volatile week down over geopolitical concerns, uncertainty over the Fed’s next move, and economic concerns in Europe and China.  The S&P 500 sank 1.4% while the Dow dropped 1.0% for the week.  Internationally, Europe fell 1.8%, while Japan was down 0.6% for the week.  The 10 Year Treasury yield finished the week at 2.54% down from the previous week as bonds rose with safe haven investments more in favor.  Article

Bond king Bill Gross announced he was stepping down from Pimco, the firm he founded and the flagship fund he managed, the Pimco Total Return fund, the largest bond fund in the world.  He will move to Janus Capital to manage a new unconstrained bond fund there.  Article

The US Treasury took action to try and stem the tide of recent inversion deals, where a US company buys/mergers with an international company and moves its corporate home there to take advantage of a lower tax rate, by adding rules which take away many of the incentives.  Article

Chinese Finance Minster Lou Jiwei stated that the country did not expect to undertake any new stimulus measures despite relatively weak growth.

A European purchasing manager’s index dropped to its lowest level of the year spurring additional growth worries.

New home sales jumped 18% in August to the highest level since May 2008.

Revised 2Q GDP showed growth accelerated faster than previous estimates at 4.6%.  The gain matches the fastest pace of growth since the recession.

Blackberry and Nike both posted earnings reports.



Raffa Wealth Management is an independent investment advisor providing nonprofit organizations, high net-worth investors, and qualified retirement plans with a full range of investment consulting services.  We were established to fill the need for transparency, clarity, and vision in the professional management of investment assets.   Visit us at

DiggLinkedInDeliciousRead It LaterStumbleUponEmailGoogle BookmarksGoogle BuzzFacebookShare
This entry was posted in Monthly Market Commentary, Nonprofit Investing, Personal Financial Management. Bookmark the permalink. Both comments and trackbacks are currently closed.
  • Contact Us
    Raffa Wealth Management
    1899 L Street, NW
    Suite 900
    Washington, DC 20036
    Tel: 202-955-6734