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As police officers and fire fighters stand committed to protecting the public, Public Safety Financial/Galloway stands committed to serving the financial needs of public servants.

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Founded in 1999 by Mike Galloway, a United States Marine Corps veteran and retired Mesa Police Lieutenant. Public Safety Financial/Galloway has a clear mission. Address the specialized issues surrounding government pensions, DROP rollovers, deferred compensation, and investment accounts. We offer a “one-stop” solution for public servants’ investment needs.

With over 280 years of combined public safety expertise and over 260 years of financial service experience, the Public Safety Financial/Galloway team is deeply invested in your family’s financial success.

For more information, please call 877.778.2351.

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INTEGRITY     EXPERIENCE    COMMITMENT

   

PSF/Galloway Market Update
#marketupdate #psfgalloway #december #retail #sales
Jan 9-13, 2017

There wasn’t much news to move the market last week and the market in fact didn’t move much. The S&P 500 finished the week close to flat at -0.10%. The index is now up +1.67% in 2017. International markets fare a little better so far this year as the MSCI EAFE Index (Europe Asia and the Far East) is up +1.94%.

The main key indicator released last week is the December retail sales number which was up a decent +0.6%. Excluding auto sales however the increase was only +0.2% implying that the holiday season was fairly slow for most retailers. The exception being online stores whose sales were up +1.3% in December alone and +11.4% year-over-year. Online sales represented about 10.2% of total retail sales in 2016, up from 9.4% in 2015.

Overall, retail sales are up +4.1% since December 2015, reflecting a mostly optimistic population. “Consumers this season benefited from higher wages, lower unemployment, and stronger stock markets and home values.” (source: CNBC).

Inflation is showing some signs of life as the Producer Price Index (PPI) was up +1.6% in 2016. Increases in the PPI tend to trickle down to the Consumer Price Index (CPI) over time. The CPI will be released this Wednesday. As a reminder, the Federal Reserve is targeting a 2% rate of inflation for consumers. Friday’s increase for producers may not get us there but it is a step in the right direction.
Source: NFIB Not a market mover but of note, the NFIB Small Business Optimism Index soared in December to levels not seen since

2004 with half of the small business owners expecting the economy to improve.

Finally, we are also seeing some signs of improvements in Europe. Eurozone Industrial Production grew sharply in November (+3.2% year-over-year) and even in the UK (+2.0% y-o-y) where we have yet to see a significant impact from the Brexit referendum result.
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6 days ago

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Pension Reform Seminar

January 26, 2017, 10:30am

Green Valley Fire District

Come join PSF/Galloway for a seminar addressing Prop 124 and Senate Bill 1428 while learning how to save in your Deferred Compensation Plan. RSVP by email at 411@galloway911.com or call 480-325-8668.

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7 days ago

#psfgalloway #MLKday #closed #marketholiday

PSF/Galloway will be closed today in honor of Martin Luther King Jr. Day.

We will be back in the office at 8am Tuesday morning ready to take your calls and answer your questions.

Stay safe,
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1 week ago

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Public Safety Financial/Galloway added 2 new photos.

PSF/Galloway Market Update
#psfgalloway #marketupdate #economy

Jan 2-6, 2017

The S&P 500 started the year fairly well with the index rising +1.73 % this week after closing 2016 up +11.96%. The 20,000 mark is proving to be a hard ceiling to go through for the Dow Jones Industrial Average as Friday’s intra-day high for the index was 19,999.63.

March 2017 will mark the 8th anniversary of our current economic expansion. Even though Gross Domestic Product (GDP) growth has been slower than past expansions, this will be the third longest cycle going back to 1900.

Despite its age the US economy is still showing signs of life. The December Manufacturing Index released last Wednesday was very strong with new orders expanding to a two year high, which bodes well for factory jobs in the near future. On Thursday, the Federal Open Market Committee (FOMC) released the minutes from their last meeting. The notes showed a cautious disposition in regards to the implementation of the incoming administration’s economic program. The goal is still to raise the Fed Fund rate at least 3 more times by the end of 2017 which implies that Fed members think that the economy still has room to grow.

Finally, Friday’s unemployment report indicated a slight bump in the unemployment rate from 4.6% to 4.7% in December. There are two ways the unemployment rate can go up: one is when people lose their jobs and the other is when businesses are not creating enough jobs to meet the demand of new individuals looking for work. We find ourselves in that second alternative. Non-farm payroll rose by 156,000 new jobs in December, which was on the low-end of economists’ estimates, while employment participation (the percentage of individuals over the age of 16 actively looking for work) increased... In other words, many new people are actively looking for work and there aren’t enough jobs (appropriate for their skills) to satisfy the demand. The key element of this job report however was the eye-popping change in hourly earnings. Wages went up +0.4% on average in December alone bringing the year-over- year increase to +2.9% boosting fears of a sharp increase in the inflation rate in the near future.
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2 weeks ago

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#marketupdate #psfgalloway #december #newyear #christmas

Dec 26-30, 2016

So much for the Santa Claus rally that is supposed to occur in the 5 days that precede and 5 days that follow Christmas. The S&P 500 was down -1.10% for the week. The index finished December up +1.98% and +11.96% for the year. The Dow Jones also failed to hit the 20,000 mark.

Not much happened from an economic perspective in that last week of the year. Consumer confidence continued its multi-year climb to new a new recover high. Leading the index higher was the expectations that more jobs would be created in the months to come and that overall income would increase significantly.

The only other somewhat significant announcement to come out last Thursday was our trade balance. Our trade deficit expanded more than expected to -$65.3 billion in November. Both our imports continued to increase (+1.2%) and our exports continue to fall (-1.0%) in November. Our trade is looking quite weak in the fourth quarter (down -3.5% so far), partly because the US Dollar has strengthened by 6.2% since September 30, making our products more expensive abroad and foreign products cheaper to import. This will negatively impact our Gross Domestic Product growth for the last quarter of the year as Net Trade represent about 3% of GDP.

This wraps up 2016, a year which was good for US equity markets but not so much for foreign developed markets overall with the MSCI EAFE (Europe Asia and the Far East) index up a mere +1.51%. Emerging Markets fared better up +11.60% and the All Country World Index (ACWI), which includes domestic and foreign developed and emerging countries up +8.48 % as a result. Bond markets globally eked out a small gain with the Barclays US Aggregate Bond Index rising +2.65% and the Global Aggregate Bond Index +2.09%.

2017 will be an interesting year as the US prepares to have its first president with no prior government or military experience and the Netherlands, France and Germany will face important elections which could reshape the future of the European Union.
Wishing you all the best for the New Year!
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3 weeks ago

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#newyearsday #happyholiday #staysafe

In observance of the New Year's Day,
Public Safety Financial/Galloway will be closed today.

We will be reopen for business and ready to assist you tomorrow, January 3rd @ 8am.

Stay Safe,
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3 weeks ago

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PSF/Galloway Market Update
#psfgalloway #marketupdate #index #financialadvisor

Dec 19-23, 2016

Despite a slight increase for the week, the run for DOW 20,000 did not pan out. The index closed at 19,933.94, just 0.31% short of the milestone. The S&P 500 also ended the week mildly higher and is now up +3.1% in December and +13.2% for 2016 with about half that the return for the year happening since the election.

Most of the significant economic releases came in on Thursday and overall the data was a bit disappointing. Durable goods orders were down sharply in November (-4.6%) missing the consensus estimate (-4.0%). Making matters worse, when excluding defense spending the slide was even an even larger -6.0%. Durable goods orders are not the same as spending on durable goods by the end consumer which is included in Gross Domestic Product (GDP), however new orders can provide some information on future factory activity and factory jobs.

Personal income was flat (+0.0%) in November, also missing the +0.3% mark set by economists. One of the problems for consumers is that while income growth is slow, inflation has picked up recently. As result, real (inflation adjusted) disposable income fell back -0.1%% in November after climbing +0.2% the month before.
Closely linked to income, consumer spending was up only +0.2% vs. the +0.3% expectation. For October and November, spending is up +2.0% on an annualized basis which is short of the +3.0% we had in the third quarter. Consumer spending represent 70% of GDP so the weaker than expected number explains why estimates for fourth quarter GDP continue to slide and are now around +2.5% according to the Atlanta Fed. Wells Fargo is a lot less optimistic, forecasting only +1.3% growth.

The only bright spot for the week was the final Third Quarter GDP number which came out at an annualized rate of +3.5% (up from the +3.2% previous estimate). Annualizing quarterly numbers can be deceiving however and GDP is only up +1.4% on a trailing 12 month basis.

Next week will be short (4 days) and light on economic news with International Trade being the only significant data release. Net exports of Goods and Services represent about 3% of our GDP.
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4 weeks ago

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In observance of the Christmas Holiday,
Public Safety Financial/Galloway will be closed today.

We will be back in the office ready to help you and answer any questions on December 27th @ 8am.

Stay Safe!
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4 weeks ago

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#holidays #psfgalloway #adoptafamily

This year, PSF/Galloway was fortunate enough to adopt 2 different Mesa families.

All of the kids were given a warm jacket, shoes, and outfits.

Both families were given grocery and gas gift cards, food certificates, a table full of presents, Christmas dinner with sides and desserts.

We are very grateful to be able to help these families as much as we did and appreciate everyone at PSF/Galloway for contributing.

Thanks to all who made this a huge success.

Stay safe and Happy Holidays!
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1 month ago

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Public Safety Financial/Galloway added 2 new photos.

#psfgalloway #marketupdate #december

PSF/Galloway Market Update

December 12-16

The S&P 500 did not move much last week and closed roughly where it started. So far the index is up +2.8% in December and +12.8% for the year.

The Federal Reserve (Fed) raised the overnight rate by +0.25% to a target range of 0.50% to 0.75% on Wednesday. This is only the second time in the last ten years that the Fed took action on the upside. The increase had been well telegraphed and 95% of the analysts expected it. “Assessments are roughly the same as the November meeting, with job gains described as ‘solid’, household spending called ‘moderate’, and business investment still ‘soft’.” (Source: Econoday).

Guidance for 2017 was upgraded from 2 to 3 more increases. The last time the Fed raised the overnight rate was in December 2015. At the time the dot plot indicated that we would be around 1.375% today but unforeseen circumstances throughout the year such as low inflation, so-so Gross Domestic Product Growth for the first half the year, the British exit from the European Union and the election of Donald Trump have cast a cloud of uncertainty that delayed action. As of this latest meeting the Fed’s forecast for December 2017 is once again 1.375%. We shall see if they are more accurate this time.

Economic releases were a mixed bag this week. November retail sales missed the consensus (+0.1% vs. +0.4%) mostly due to a sharp drop in auto sales (-0.5%) following several months of strong growth. On the other hand, discretionary spending on restaurants and other more durable items (furnishing and building materials) had a respectable showing for the month of November. The auto industry was also mostly responsible for the weakness in industrial production (- 0.4%) as the production of motor vehicle slid a sharp -2.3% last month.

On a more positive note, weekly jobless claims continue to be very low (254 k) and both the Philadelphia Fed Business Outlook Survey and the Manufacturing Flash index showed signs of better things to come. Of note on this report were an increase in hiring for manufacturing jobs and a new focus on inventory buildup.
Key indicators to watch next week will be the final reading for third quarter GDP growth, which currently stands at a very respectable +3.2%, as well as Durable Goods and Personal Income.
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1 month ago

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#psfgalloway #marketupdate #mondayreading

December 5-9, 2016

The post-election rally continued this week with the S&P 500 moving up +3.1% since last Friday pushing the index to +12.9% on a year-to-date basis.

Antiestablishmentarianism continued to dominate the news as Italian voters rejected parliamentary reform that was intended to streamline the government and liberalize the economy. The “no” vote was well expected however the margin of victory was much wider than anticipated (60% “No” to 40% “Yes”) causing the Italian prime minister to resign. European stock markets mostly shrugged off the event and rose sharply for the week despite the renewed uncertainty regarding the future of Italy and the European Union (EU) as a whole. The Netherlands, France and Germany are next on the electoral calendar and particular attention should be paid to France (in April and May) as populist Marine Le Pen is expected to make it to the second round of the elections according to early polls. Mrs. Le Pen has been a very vocal proponent of a French exit from the EU (a “Frexit”) which would most likely deal a deathblow to the Union if it were to happen.

Back on our shores the week was quieter with the only significant economic announcement being the October International Trade report on Tuesday. The report was a bit disappointing as the trade deficit increased to $-42.6 billion in October from $-36.2 billion in September. Both exports (-1.8%) and imports (+1.3%) moved in the undesirable direction. Fourth quarter Gross Domestic Product (GDP) would be negatively impacted should the deficit continue to widen in November and December.

On a more positive note as we enter the final month of the year and most public companies have now reported their third quarter earnings, it seems that US Corporate profits continue to recover. The Wall Street Journal reported recently that “a key measure of after-tax earnings across U.S. corporations rose 5.2% in the third quarter from a year earlier [...] That was the first annual increase since late 2014 and the strongest year-over-year growth since the fourth quarter of 2012 [...] Excluding the hard-hit energy sector, earnings would be up 7.9%” (WSJ – “Company Earnings Show Strength as U.S. Growth Picks Up - By Ben Leubsdorf and Theo Francis - Nov. 29, 2016).

Finally, the upcoming week will be chock-full of potentially market moving news. Items to watch in particular will be updates on inflation, retail sales, industrial production and of course the Federal Open Market Committee’s (FOMC) decision on interest rates on Wednesday.
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1 month ago

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Public Safety Financial/Galloway was honored to have the parents of fallen Corpsman, Nathan Martens, stop by the office last Friday to meet the office and get the grand tour.

CEO, Mike Galloway, presented Rob and Maria Martens with a framed replica of the actual uniform he was wearing when he was killed in 2005.

The Martens shared with Mike that their greatest fear is that there child will be forgotten over time. Even though its been 11 years since Nathan's sacrifice, we will always remember.
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1 month ago

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Donald Moss, Giangelo Gomez and 5 others like this

Scott E MacphailNever forget, it's just that simple. Some gave all...

1 month ago   ·  2
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Deb Moon MacPhailIt's a fear of mine as well. What a wonderful gift

1 month ago   ·  2
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Rob N Maria MartensScott& Deb, as long as we're alive, we will never forget Alex or Nathan

1 month ago
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#azburnfoundation #festivaloftrees #scottsdale #burnvictims

Trees decorated by dozen's of volunteers, auctioned for thousands and is the singular fundraising event of the year.

The main tree was auctioned for $160,000! All of the proceeds are disbursed for the continuation of the programs the Burn Foundation offers for the burn survivor community.

A great event that continues to grow each year!
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A fundraiser for the AZ Burn Foundation.

2 months ago

 
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