Affluent Investor Confidence Slumps

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    6

    A decline of confidence in the economy and concerns over market conditions drove a dramatic drop in the Spectrem ‘Millionaire Investor Confidence Index’ to six from 15 the previous month. Its ‘Affluent Investor Confidence Index’ dipped two points in June to six. This is the first time since February 2010 that the indices were recorded at the same level (both at six). Prior to that, it only happened twice in the 11-year history of the indices: November 2008 and June 2009. “While there were positive economic indicators in June, millionaire investors, especially, are focused on economic outlook in relation to an economy artificially supported by low interest rates and what will really occur when the Fed raises them,” says George Walper, Jr., president of Spectrem Group. “This, in part, drove June’s increase in millionaire investors who indicate their intention to stay on the sidelines in the coming month.”