It is the eye which makes the horizon. - Ralph Waldo Emerson
Good morning,
As I look out to the week ahead, it seems things are ramping back to full swing. At Henderson Wealth we are preparing to meet with all of our clients over the next few months, the fall always seems to be a perfect time for us all to revisit the goals we previously set for ourselves and prepare for the year ahead, with a fresh perspective.
We don't see things as they are, we see them as we are. Anais Nin
As you know, our approach to Wealth Management is philosophical in nature. We define wealth as the four elements…much more than simply being financial, they include our social capital, intellectual capital and our human capital. We believe that the path to wealth enhancement is through an intentional goals based approach, developing a vision for ourselves personally, for our families, and for our respective professional aspirations. We believe that we can all discover purpose and meaning by defining and refining how you and your family engages wealth, and each other.
Through years of experience, we have learned that families who successfully navigate the complexity of wealth through multiple generations tend to do things differently. They recognize the need to establish a framework for decision-making that includes creating foundational documents, something we refer to as the “Cornerstone Statement”. Developed together, the statement features your values, vision, and mission for the wealth over many generations.
In working closely with enterprising families, we find the approach similar to that of strategic planning for one’s business. We develop the strategic plan, alongside the other members of the family system, understanding shared core values and creating family vision together. With focused planning and respectful collaboration, we will create these foundational documents to help your family and future generations achieve a long-lasting and thriving legacy while constantly maintaining and revisiting perspective.
Keep an eye out for an email from our team to set up our next meeting and together we can define your vision and create Cornerstone Statement, your road map with some fresh new perspective for your journey ahead.
“The journey of a thousand miles begins with one step.” Lao Tzu
And now, to the markets
S&P futures down 0.1% in premarket trading, off best levels. Comes after major indices closed somewhat higher in last week's trading. European markets generally higher but coming off a bit. Follows solid Asia trading. Treasuries weaker with the curve steepening (and the 10Y yield approaching 1.50%). Dollar better on the yen and euro crosses but lagging sterling. Gold down 0.2%. Bitcoin futures up 3.6%. Oil is higher, with WTI up 1.4% after logging its fifth consecutive week of gains on Friday.
Big focus in the US this week on the very busy legislative calendar for Congress. The ~$1.2T bipartisan infrastructure bill may come up for a House vote Thursday, rather than a vote today as Democratic leadership had targeted. Speaker Pelosi is also looking for a House vote this week on her party's $3.5T stimulus plan. Behind all this, there is the looming 30-Sep expiration of the government's spending authority. With Senate Republicans still not willing to countenance participating in a vote to raise the debt ceiling, Democrats are looking to craft a short-term spending deal that could get bipartisan support in order to keep the government open.
Newsflow elsewhere fairly light this morning. Yes, Evergrande still in the headlines with investors waiting on signs of payment of Thursday's $83.5M coupon payment and the other $47.5M due this week (company does have a 30-day grace period). Market participants generally playing down contagion threat with Beijing still expected to ensure there is no disorderly default. In the weekend's German election, preliminary results show Social Democrats garnered a slight majority but it could take months to sort out a new government. UK energy crunch also getting a lot of press, with PM Johnson authorizing 5K temporary visas for tanker-truck drivers.
That’s all for now….
As we head into the week, let’s take time to understand that our perspective today is a new one, a perspective that will ensure that we are planning for the next chapter in our life and help us embrace the road ahead.
It all depends on how we look at things, and not how they are in themselves. Carl Jung
Be well & enjoy the moments
Derek