Presents:

WEEKLY ECONOMIC UPDATE

WEEKLY QUOTE

The truth is rarely
pure and neer
si!ple"#

- Oscar Wilde


WEEKLY TIP

I$ y%u !a&e pre'ta(
)%ntri*uti%ns t% a
+%r&pla)e retire!ent
plan, )he)& and see
h%+ they a$$e)t y%ur
pers%nal )ash $l%+"
Y%u !ay dis)%er
that y%u )an put in
!%re than y%u thin&"


WEEKLY -IDDLE

It )an *e t%ld, played,
and )ra)&ed and it
)an een *e pra)ti)al
as +ell" What is it.


Last weeks riddle:
What d% the +%rds )ii)
and leel hae in
)%!!%n.

Last weeks answer:
They are palindr%!es"
/uly 01, 2301

FED PLANS TO STOP EASING THIS FALL
/une4s 5ederal -esere p%li)y !eetin6 !inutes %utlined the )entral *an&4s e(it plan
$r%! QE7" The 5ed +ill )%ntinue taperin6 its !%nthly asset pur)hases in a series %$
803 *illi%n )uts, then !a&e a last 809 *illi%n )ut in late O)t%*er" The /une !inutes
%$$ered n% hint %$ )han6e %n interest rates: 5ed %$$i)ials are +idely e(pe)ted t% ad;ust
sh%rt'ter! rates in 2309" The 5ed a)tually lessened its !ediu!'ter! in$lati%n
$%re)ast, and the !inutes sh%+ed 6eneral a6ree!ent $%r reinestin6 pr%)eeds $r%!
!aturin6 *%nds until a rate hi&e %))urs"
0,2

U.S. BUDGET DEFICIT COULD BE SALLEST IN ! "EA#S
A))%rdin6 t% the C%n6ressi%nal <ud6et O$$i)e, the $ederal de$i)it t%taled 87== *illi%n
nine !%nths int% the )urrent $is)al year > a 2?@ redu)ti%n $r%! the prei%us year"
AChal& that up partly t% $ederal ta( re)eipts in)reasin6 ?@ $%r 5Y 2301"B The C<O
sees a 81C2 *illi%n $ederal de$i)it $%r the $ull *ud6et year endin6 Dept" 73"
7

OIL DIPS BELO$ %&'& AS SUPPL" FEA#S DIINISH
5utures dr%pped 7"0@ last +ee&, )l%sin6 at 8033"?7 5riday %n the NYMEE" -is&s t%
supplies in IraF and Li*ya lessened, and A!eri)an )rude inent%ries e(panded"
1

BAN( ST#ESS IN EU#OPE HELPS SEND STOC(S SOUTH
When the parent )%!pany %$ P%rtu6uese lender <an)% Espirit% Dant% !issed de*t
pay!ents last +ee&, a *lip %$ an(iety a*%ut eur%G%ne *an&s hit the !ar&et" That
)%ntri*uted t% the $%ll%+in6 +ee&ly per$%r!an)esH DIP 933, '3"C3@ t% 0,C=J"9J:
D/IA, '3"J7@ t% 0=,C17"?0: NADDAQ, '0"9J@ t% 1,109"1C"
1,9,=

THIS $EE(H Citi6r%up, MIT <an&, DuperKalu, Charles D)h+a*, Piper /a$$ray,
Da$e+ay and A!eri)an Airlines ann%un)e earnin6s %n M%nday" On Tuesday, /anet
Yellen *e6ins t+% days %$ Denate testi!%ny %n 5ed !%netary p%li)y: earnin6s $r%!
CDE, Cintas, L%ld!an Da)hs, C%!eri)a, /PM%r6an Chase, /%hns%n I /%hns%n,
Yah%%M and Intel appear al%n6 +ith /une retail sales nu!*ers" Quarterly results $r%!
<la)&-%)&, <an& %$ A!eri)a, UD <an)%rp, PNC 5inan)ial, East West <an)%rp,
Kinder M%r6an, DanDis&, Yu!M <rands, N%rthern Trust and A**%tt La*s arrie
Wednesday, plus a ne+ 5ed <ei6e <%%&, /une4s PPI and nu!*ers %n /une industrial
%utput" Thursday %$$ers earnin6s $r%! L%%6le, Mattel, M%r6an Dtanley, Aut%Nati%n,
Capital One, Dher+in'Willia!s, Philip M%rris, Dnap'On, Allian)e Data Dyste!s,
Dea6ate, 5i$th Third and I<M, in additi%n t% data %n initial )lai!s and /une h%usin6
starts and *uildin6 per!its" 5riday, the preli!inary /uly Uniersity %$ Mi)hi6an
)%nsu!er senti!ent inde( arries, al%n6 +ith the C%n$eren)e <%ard4s /une leadin6
indi)at%r inde( and Fuarterly results $r%! LE, <an& %$ NY Mell%n and N%ney+ell"

% CHANGE Y-T-D 1-YR CHG 5-YR AVG 10-YR AVG
DJIA +2.21 +9.59 +21.60 +6.55
NASDAQ +5.72 +23.40 +30.29 +12.80
S&P 500 +6.45 +17.47 +24.76 +7.66
REAL YIELD 7/11 RAT 1 YR AG! 5 YRS AG! 10 YRS AG!
86173
10 YR TIPS 0.25" 0.56" 1.80" 2.02"

S#$%&'() *SAT!DAY.&#+, -./&01%2(.&#+, 2%'1($%3./#4 - 7/11/14
6,7,8,9
I56.&'( 1%' $5+151/'6, 6# 5#2 .5&$% 7''( #% '89'5('(, 156 &155#2 -' .54'(2'6 .52# 6.%'&2:3.
T0'(' %'2$%5( 6# 5#2 .5&:$6' 6.4.6'56(.
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Consultants and NPC are neither endorsed "y, retained "y, or affiliated *ith the co!panies here *ithin(

This !aterial +as prepared *y Mar&etin6Pr%, In)", and d%es n%t ne)essarily represent the ie+s %$ the presentin6 party, n%r their
a$$iliates" This in$%r!ati%n has *een deried $r%! s%ur)es *elieed t% *e a))urate" Please n%te ' inestin6 in%les ris&, and past
per$%r!an)e is n% 6uarantee %$ $uture results" The pu*lisher is n%t en6a6ed in renderin6 le6al, a))%untin6 %r %ther pr%$essi%nal seri)es"
I$ assistan)e is needed, the reader is adised t% en6a6e the seri)es %$ a )%!petent pr%$essi%nal" This in$%r!ati%n sh%uld n%t *e
)%nstrued as inest!ent, ta( %r le6al adi)e and !ay n%t *e relied %n $%r the purp%se %$ a%idin6 any 5ederal ta( penalty" This is neither
a s%li)itati%n n%r re)%!!endati%n t% pur)hase %r sell any inest!ent %r insuran)e pr%du)t %r seri)e, and sh%uld n%t *e relied up%n as
su)h" All indi)es are un!ana6ed and are n%t illustratie %$ any parti)ular inest!ent" The D%+ /%nes Industrial Aera6e is a pri)e'
+ei6hted inde( %$ 73 a)tiely traded *lue')hip st%)&s" The NADDAQ C%!p%site Inde( is an un!ana6ed, !ar&et'+ei6hted inde( %$ all
%er'the')%unter )%!!%n st%)&s traded %n the Nati%nal Ass%)iati%n %$ De)urities Dealers Aut%!ated Qu%tati%n Dyste!" The Dtandard
I P%%rOs 933 ADIP 933B is an un!ana6ed 6r%up %$ se)urities )%nsidered t% *e representatie %$ the st%)& !ar&et in 6eneral" It is n%t
p%ssi*le t% inest dire)tly in an inde(" NYDE Lr%up, In)" ANYDEHNYEB %perates t+% se)urities e()han6esH the Ne+ Y%r& Dt%)& E()han6e
Athe NYDE#B and NYDE Ar)a A$%r!erly &n%+n as the Ar)hipela6% E()han6e, %r Ar)aE(P, and the Pa)i$i) E()han6eB" NYDE Lr%up is a
leadin6 pr%ider %$ se)urities listin6, tradin6 and !ar&et data pr%du)ts and seri)es" The Ne+ Y%r& Mer)antile E()han6e, In)" ANYMEEB
is the +%rldOs lar6est physi)al )%!!%dity $utures e()han6e and the pree!inent tradin6 $%ru! $%r ener6y and pre)i%us !etals, +ith
tradin6 )%ndu)ted thr%u6h t+% diisi%ns > the NYMEE Diisi%n, h%!e t% the ener6y, platinu!, and palladiu! !ar&ets, and the
COMEE Diisi%n, %n +hi)h all %ther !etals trade" Additi%nal ris&s are ass%)iated +ith internati%nal inestin6, su)h as )urren)y
$lu)tuati%ns, p%liti)al and e)%n%!i) insta*ility and di$$eren)es in a))%untin6 standards" This !aterial represents an assess!ent %$ the
!ar&et enir%n!ent at a spe)i$i) p%int in ti!e and is n%t intended t% *e a $%re)ast %$ $uture eents, %r a 6uarantee %$ $uture results" Past
per$%r!an)e is n% 6uarantee %$ $uture results" Inest!ents +ill $lu)tuate and +hen redee!ed !ay *e +%rth !%re %r less than +hen
%ri6inally inested" All e)%n%!i) and per$%r!an)e data is hist%ri)al and n%t indi)atie %$ $uture results" Mar&et indi)es dis)ussed are
un!ana6ed" Inest%rs )ann%t inest in un!ana6ed indi)es" The pu*lisher is n%t en6a6ed in renderin6 le6al, a))%untin6 %r %ther
pr%$essi%nal seri)es" I$ assistan)e is needed, the reader is adised t% en6a6e the seri)es %$ a )%!petent pr%$essi%nal"

Citati)ns.
0 ' !ar&et+at)h")%!Qst%ryQ$ed'plans't%'end'*%nd'pur)hases'in'%)t%*er'2301'3J'3C RJQCQ01S
2 ' $(street")%!QanalysisQus'$ed+at)hQ2301Q3JQ00Q RJQ00Q01S
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1 ' !%ney"!sn")%!Q*usiness'ne+sQarti)le"asp(.$eedT<LOOMIdateT23013J00IidT0JJ=??J7 RJQ00Q01S
9 ' 6%%6le")%!Q$inan)e.FTINDEEDP@7A"INEIeiTE5$AU'iK/UTLiQL+pINQDQQ RJQ00Q01S
= ' usat%day")%!Q!%neyQ!ar&etsQ%erie+Q RJQ00Q01S
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? ' treasury"6%Qres%ur)e')enterQdata')hart')enterQinterest'ratesQPa6esQTe(tKie+"asp(.dataTrealyield RJQ00Q01S
C ' treasury"6%Qres%ur)e')enterQdata')hart')enterQinterest'ratesQPa6esQTe(tKie+"asp(.dataTrealyieldAll RJQ00Q01S

86173