HALF-TIME 2013{Insert Date} | {Insert Location}

{Insert Company Logo}

Words We Learned (or made up) in 2013

Tapering

What does this word mean?A) Taping two pieces of paper togetherB) Changing the width of your pantsC) The Federal Reserve is lowering the amount of

assets they buy

Agenda

Where We’ve Been

2013 Performance (Through 6.30.2013)

S&P 500(Domestic

Stocks)

+12.6%

DJ Global ex US (Foreign Stocks)

-1.1%

10-year Treasury

Yield+2.49%

Gold-28.2%

Consumers Remain Resilient

Despite higher taxes, consumers continue to spend more and gain confidence

Consumers confidence at five-year highs

Where We Are

Rising stock and home prices creating “Wealth Effect”

U.S. is still a “Tale of Two Nations” Consumers gaining confidence despite

structural economic issues Corporations have lowered expectations Geopolitical tensions bubbling Stocks trading just below all-time highs

What to Watch

Fed Exit – Impact on Financial Markets China’s Economy Slowing European Economy Money Flows: Will We See Great Rotation? Geo-Political Risks