Saturna Capital: Market Commentary

Peter Nielsen & Bryce Fegley
Peter Nielsen, MBA, CFA
Bryce Fegley, Analyst

Saturna publishes periodic commentary on the trends and forces shaping today's markets. Here you will find information on Saturna's fund prices and performance, as well as financial news from around the globe.

Apr. 7, 2008 • Credit Market Plague Spreads

The short-term credit market, once thought to be of little capital risk to investors, has seized up — staggered by the deleterious impact of illiquidity. Grave doubts regarding the stability of the underlying collateral — notably the value of pooled martgage securities — have led to a rash of defaults and restructuring...

Mar. 5, 2008 • On The Brink: Recession Woes Plague Markets

The US economy remains on the brink of recession. A dashboard of economic indicators tells the story: The latest revision of 4th quarter GDP showed growth stalling at just 0.6%. Today’s release of the ISM Non-Manufacturing (services) survey was better than expected...

Feb. 13, 2008 • Recession Worries, Upside Risks

What a difference a week makes! Not seven days ago the S&P 500 was down 4.6% on recession fears. In the three trading days so far this week, the market, buoyed in part by a retail sales report that wasn’t a complete disaster, appears to have sensed a lot of good value opportunities at hand, sending stocks up 2.6%.

Feb. 6, 2008 • Financial Market Uncertainty Continues

With the first presidential nominating contest in Iowa looming, we expected the nominees for each party would likely be sewn up with the “Super Tuesday” contests, while financial market uncertainty would continue indefinitely.

Jan. 30, 2008 • Despite Fed Rate Cut, Market Declines

At least Jim Cramer and Maria Bartiromo are all giddy about things now. The Federal Reserve has reduced the Federal Funds rate by 50 bps. According to Jim, this means that, “financials are out of the woods, thanks to the Fed.” Unfortunately, the markets didn’t share his optimism.

Performance data quoted represents past performance which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Standardized returns current to the most recent month-end can be obtained by visiting our Average Annual Returns Page. The Adviser has absorbed, currently or in the past, certain Fund expenses, without which total returns would have been lower. Note that returns do not reflect the potential deduction of a 2% redemption penalty on shares held less than 30 calendar days. To obtain more detailed information, including investment objectives, risks, expenses and charges and the current prospectuses, please visit our Documents & Forms Center or call 1-800-SATURNA. Please read the prospectuses carefully before you invest or send money. Distributor Saturna Brokerage Services, Member FINRA / SIPC.

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Saturna Capital Funds are offered only by prospectus. Nothing on this website should be considered a solicitation to buy, an offer to sell, or a recommendation for any security in any jurisdiction where such offer, solicitation, or recommendation would be unlawful. Terms & Conditions of Use, Privacy Statement, Code of Ethics, Business Continuity Plan and Investor's Bill of Rights © 2006-2007 Saturna Capital Corporation. Distributor: Saturna Brokerage Services, Member FINRA / SIPC.

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