Economic Commentary Disclosures

Stock prices and returns are typically less stable than those of bonds (also known as fixed-income investments). While stocks have the potential for higher gains, those gains are not guaranteed and could also lead to loss.

Stocks of new or smaller companies have the most equity risk because they are less established compared with medium- or large-company stocks.

While fixed income securities usually contain less risk than other equity investments, they can still be impacted by interest rates and other factors. Some fixed income products, such as bonds, are investments that can't be used until they have matured. It's important to understand that interest rates and bond prices tend to move in opposite directions, so there are economic considerations with these investments as well.

International investments have additional risks to consider, including political instability and different industry practices (such as accounting standards).

Investing in real estate can also be risky since there are additional economic factors that affect real estate values.

Commodities (such as coffee or copper) have prices that fluctuate more than other assets, and can be affected by economic factors as well as weather or political developments. You can invest in these types of assets either directly or through products linked to commodity prices.

A money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any government agency. The typical goal of the fund is to preserve your investment; however, it is still possible to lose money.