Banach Wealth Management Feb. 1, 2009 Letter
January 2009 Markets Review
Economic & Market Uncertainties;
New U.S. Government Starts Awkwardly
Key Points
- January 2009 Total Returns
S&P 500 (826) -8%
U.S. 10 Yr. Bond (2.86%) -13%
NASDAQ (1476) -6%
Foreign (EAFE) Stocks -14% - U.S. GDP expected contraction -1.2%
- 2009 expected earnings decline -6.0%
- Large Jan. 2009 losses;
First Half 2009 recovery uncertain