AUTHOR: TOWNE SCHERER.COM 03/18/2015: Towne Scherer Private Wealth Management BLOG: Comebacks are in the news, with “Bibi” Netanyahu pulling out a victory to remain the Prime Minister of Israel, despite polls over the weekend clearly showing him as a loser. Oil bounced off the bottom as “U.S. companies pulled 83 rigs out of the fields in the latest week, following 94 in the previous week,” according to Baker Hughes Data. Even the market rallied after Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, withdrew the word ‘patience’ from her commentary, suggesting that there may be an increase in interest rates as early as midyear. Nevertheless, RiverFront Investment Group suggested emerging market allocations should be reduced and that “China’s economy has increased its risk to a hard landing, although they have already introduced a ‘targeted’ fiscal stimulus.” Furthermore, at the end of the week we, like March, are ending like a lamb with Jobless Claims and the Philadelphia Fed Business Outlook Survey reporting on Thursday, March 19. Sadly, and becoming a weekly event, terrorists’ attacked Bardo Museum in Tunis, leaving 19 dead, including 17 European tourists, with 24 injured. Unlike those, Edmund Burke, the Irish statesman, was referring to, when he remarked that “those that who don’t know history are doomed to repeat it,” those in Tunis looking at history in a museum…paid a heavy price this week. So much for a Happy St. Patrick’s Day.
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