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Paul Olsen Presents:
 
MONTHLY ECONOMIC UPDATE
 
 
MONTHLY QUOTE
 
"In great affairs men show themselves as they wish to be seen; in small things they show themselves as they are."
    
- Nicholas Chamfort
 
 
MONTHLY TIP
 
When financial decisions are made out of impulse rather than practicality, there is often a downside or opportunity cost that closer examination would have revealed.
 
 
MONTHLY RIDDLE
How many times can you subtract the number 9 from the number 36?
 
 
Last month's riddle:
Its teeth are sharp and its spine is straight. It is not innately vicious, it does not hunt, but to cut things up is definitely its fate. What is it?
 
 
Lastmonth'sanswer:
A saw.
 
June 2015
THE MONTH IN BRIEF
Bears presumed stocks would retreat in May. Instead, the three major U.S. indices posted gains - the Nasdaq Composite led the way with a 2.60% advance. This happened even as the U.S. Dollar Index rose and Federal Reserve chair Janet Yellen reemphasized the probability of an interest rate hike in the fall. The latest hiring and housing numbers were strong; other stateside indicators pointed to moderation in the pace of manufacturing, and consumers saving cash instead of spending it. Overseas stock markets were up and down. Oil topped the $60 level while ag futures slumped. All in all, the month turned out better than Wall Street expected.1,15

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