June 13, 2025
Global Client Survey
We’re inviting you to take part in a quick ananymous client survey. Your feedback helps us fine-tune our process, elevate your experience, and ensure we’re delivering what matters most to you. This isn’t just about checking a box—it’s about shaping the future of how we serve you. Your voice helps guide our next steps. We’re listening. We’re learning. And we’re grateful for your trust.
Take Our Survey Now (click here)
NEWS
- Washington Trade Talks With Beijing Drive S&P 500 Toward Record High
- What Percentage of Americans Own Stock?
- Are Businesses Absorbing the Tariffs or Passing Them On to Their Customers?
- Retail Investors Risk Ominous Opportunity Cost With Private Investments, Moody’s Warns
- Act of GENIUS or Blockheaded Bill? Congress Considers Stablecoins
Wealth Mechanics™
What Issues Should I Consider When Establishing And Maintaining My Emergency Fund?
There’s a lot more to an emergency fund than just 3–6 months of expenses. How does one properly define “expenses” anyway? One thing we do know is that clients think about their cash and expenses a lot. Yet, as planners, we like to spend a lot more time on the “complicated” stuff. Let’s change that up a bit.
With this checklist, you will enable a more meaningful conversation on a topic that is often overlooked and will provide greater value to your clients. This checklist covers the key issues to consider when establishing and maintaining an emergency fund, such as:
- How to properly define an emergency fund that is appropriate for your client’s situation.
- Having a plan to address both expected and unexpected expenses in one’s emergency fund.
- The pros and cons of where one’s emergency fund is located.
- Understanding how one’s emergency fund might intersect with other planning goals, and what implications that may carry.
DOWNLOAD OUR CHECKLIST
MARKET COMMENTARY
Equities
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Stocks climbed early in the week on softer inflation data, but Friday’s Middle East conflict wiped out gains.
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Large-cap stocks outperformed small- and mid-caps; value nudged past growth overall.
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Energy led the pack, buoyed by oil prices nearing $73/barrel.
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Financials fared worst, with five S&P sectors ending the week in the red.
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Foreign markets stumbled with geopolitical tensions, though emerging markets eked out a small gain.
Bonds
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Treasury yields dropped midweek on encouraging inflation news, then bounced Friday after Israel’s strike on Iran.
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The 2-year yield fell to 3.96%; 10-year to 4.41%, tightening the curve to 0.45%.
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Long-duration and government bonds outshined as credit spreads widened.
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Investment-grade yields closed at 5.20%, while high-yield ended at 7.65%.
Macroeconomic Data
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Inflation came in cooler than expected: Core CPI rose just 0.1% in May (2.8% YoY), and Core PPI followed suit.
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Consumer sentiment surged—Michigan’s index rose nearly 16% to 60.5, with expectations up 21.9%.
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Small business optimism ticked up to 98.8, breaking a four-month slide.
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Jobless claims held steady, but continuing claims climbed to the highest since 2021 at 1.956 million.
INDEX RETURNS
(as of Monday’s Market Opening)
| Total Return (1D) | Total Return (1W) | Total Return (MTD) | Total Return (QTD) | Total Return (YTD) | |
| S&P 500 | 1.12% | 0.63% | 2.24% | 7.70% | 2.76% |
| Dow Jones | 1.09% | -0.25% | 0.91% | 1.56% | 0.26% |
| NASDAQ | 1.51% | 0.56% | 3.07% | 13.88% | 2.02% |
| NASDAQ 100 | 1.40% | 0.62% | 2.78% | 13.77% | 4.39% |
| Russell 2000 | 1.39% | -0.61% | 3.15% | 5.93% | -4.43% |
| Russell 3000 | 0.94% | 0.37% | 2.20% | 7.74% | 2.65% |
| ACWI | 0.39% | 0.09% | 1.80% | 8.15% | 7.13% |
Source: MorningStar
ANNUITY WATCH
FIXED ACCOUNT |
FIXED ACCOUNT |
||
| (premium greater $100K) | (premium less than $100K) | ||
5.5% |
4.25% |
Source: Jackson Financial
Disclosures
- Wealth Mechanics™ is a registered trademark of Cestia Wealth Management. Unauthorized use of the trademark, including but not limited to commercial use, reproduction, or imitation without explicit written permission from Cestia Wealth Management, is strictly prohibited.
- Market commentary provided by NewEdge Advisors
- Charts concerning market data are provided by Exhibit A.
- Guides and other downloadable firm material respective to financial planning processes and data are provided and powered by fpPathfinder.
- Advisory services offered through NewEdge Advisors, LLC, a registered investment adviser. Securities offered through NewEdge Securities, LLC. Member FINRA/SIPC. NewEdge Advisors, LLC and NewEdge Securities, LLC are wholly owned subsidiaries of NewEdge Capital Group, LLC.
- Cestia Wealth Management is not a legal tax professional. We offer tax gap analysis for clients who desire to have a comprehensive financial plan, which requires in-depth tax strategy and planning as a distinct part of the overall customized solution. Please consult your tax professional on all matters addressed in this report.
- Information about annuities are not to be considered a recommendation. The information provided should not considered a recommendation to purchase or sell any particular security.
- Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results. Please note that individual situations can vary. Therefore, the information presented here should only be relied upon when coordinated with individual professional advice.
