Headlines Discussed at LNWM’s Monday Morning Briefing

• U.S. taxable bond funds posted record net inflows last week — $10.7 billion.
• The U.S. federal budget deficit is expected to be 24% lower in fiscal 2014 ($514 billion), per the Congressional Budget Office’s Budget and Economic Outlook.
• The U.S. Congressional Budget Office nearly tripled its estimate for the reduction in hours to be worked by Americans from 2017 to 2024, due to the effects of the Affordable Care Act being fully implemented. (See Appendix C of report.)
• More than one-third of financial advisors plan to retire or leave the industry in the next decade, a period when demand for financial advice is likely to increase as more baby boomers retire.
• Microsoft named company veteran Satya Nadella as CEO and co-founder Bill Gates as the firm’s technical advisor.

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