Market Summary

Securities offered through FSC Securities Corporation, Member FINRA/SIPC. Advisory and insurance services offered through Stavis & Cohen Financial, a Registered Investment Advisor not affiliated with FSC Securities Corporation. The views expressed are not necessarily the opinion of FSC Securities Corporation and should not be construed, directly or indirectly, as an offer to buy or sell and securities mentioned herein. Investing is subject to risks including loss of principal invested.

Market data obtained from Strategas, Morningstar and Bloomberg. Certain discussions regarding portfolio performance pay be reflective of a finite period of time or periods of extreme market activity and may not reflect the individual results of some Stavis & Cohen Financial clients. It should not be assumed that individual investors will experience the same results in the future, if any, comparable to those discussed herein. No investment strategy, including diversification, asset allocation and rebalancing, can guarantee a profit or protect against loss. Although the information has been gathered from sources believed to be reliable, it cannot be guaranteed and the accuracy of the information should be independently verified. This material contains forward looking statements and projections. There are no guarantees that these results will be achieved. Past performance is no guarantee of future returns. Indices mentioned are unmanaged and cannot be invested into directly. The indices are provided for comparative purposes only and are not intended to parallel the risk or investment style of any particular manager included in the investment strategy or reflect guidelines, restrictions, correlations, concentrations, sector allocations or volatility of the portfolio of any such manager. Strategies described cannot assure profit or guarantee against loss.

In general, the bond market is volatile as prices rise when interest rates fall and vice versa. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss, as issuer may default on payment of the principal or interest of a bond. Bonds are subject to other types of risks such as call, credit, liquidity rate and general market risks. Investing in emerging markets may involve greater risk and volatility than investing in more developed countries due to, but not limited to, political and economic uncertainty, currency exchange rate fluctuations and inadequate liquidity.