Hurricane Irma made landfall in the Florida Keys Sunday morning as a Category 4 storm. Irma is now a tropical storm but is still producing hurricane-strength wind gusts and storm-surge flooding. After pummeling the Keys, the storm moved up the west coast of Florida, heading for Georgia, South Carolina, and Alabama. Irma hit several Caribbean islands as a Category 5 storm last week, killing at least 39 people.1
Also in the news last week was the Equifax Date Breach. Read our post The Equifax Data Breach to see if you were affected and if you were what you need to do. Thursday evening, credit reporting agency Equifax disclosed that hackers had raided its databases this spring, accessing the personal information of up to 143 million people. Equifax believes that about 209,000 credit card numbers may have been collected in the process, plus numerous Social Security and driver’s license numbers. Consumers can visit equifaxsecurity2017.com to see if they may have been affected by the breach. Equifax is offering a free year of identity theft insurance and credit monitoring for those at risk..2 Read our post Avoiding the Cybercrooks to avoid more cybercrime.
The debt ceiling was raised, with a December 15th deadline. Congress passed a bill to lift the federal borrowing limit Friday, after the White House and congressional leaders agreed to extend the prior, late-September deadline. This measure approves two-and-a-half more months of funding for the federal government. A $15 billion aid package for hurricane victims was also included in the legislation.2
Markets were down last week. The Dow Jones Industrial Average lost 0.84% to 21,797.79. The S&P 500 retreated 0.59% to 2,461.43, while the Nasdaq Composite fell 1.13% to 6,360.19. Investors were worried about hurricanes and North Korea last week, and major index performance reflected those concerns.2 For more on the economy read our Weekly Economic Update. And if you haven’t already sign up for our free personal financial website. Keep track of everything in one place.
|% CHANGE||Y-T-D||1-YR CHG||5-YR AVG||10-YR AVG|
|REAL YIELD||9/8 RATE||1 YR AGO||5 YRS AGO||10 YRS AGO|
|10 YR TIPS||0.25%||0.09%||-0.68%||2.19%|
Sources: wsj.com, bigcharts.com, treasury.gov – 9/8/17
Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends. 10-year TIPS real yield = projected return at maturity given expected inflation.
Securities and Advisory Services offered through Triad Advisors Member FINRA/SIPC.