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Principal Global Investors
Wealth Management
February 2008
Giles Gunesekera
Director, Head of Third Party Sales
Agenda
Global Markets, the Economy and US Housing
Is Corporate America Vulnerable?
Product innovation how is the market evolving?
Where to from here?
Icebreaker
We will are living in tumultuous times;
On the Australian front, ASX setting records again, closing at ???? OvernightThe Australian market is verging on having its first $100 stock with Macquarie, Rio Tinto and CSL in the raceChina sharemarket corrected in February 2007 to go from returning 135% to a paltry 125%!Macquarie Bank continues to make billions by aiming to own every piece of concrete and bitumen in the worldFederer finally beat Nadal on clay breaking his 212 recordAnd Paris Hilton is still going to Prison
Times are changing!
This is the agenda we will be covering today
The key message is that although markets have been exhibiting some volatility of late, the economic fundamentals are strong and auger well for economies and corporates alike
Global Markets, the Economy and US Housing
Where are Global Interest Rates Headed?
Source: FACTSET and Principal Global Investors
Chart4
4.0231.516.326
3.9381.4785.997
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4.6041.7255.665
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4.281.3155.135
3.9171.1785.06
3.9871.255.155
4.2061.2455.35
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4.1321.3355.405
4.2181.435.33
4.3551.4455.235
4.0251.4855.4
4.1231.445.47
4.1171.5355.585
4.47681.8555.85
4.58261.795.87
4.66471.525.86
4.50991.5355.945
3.84481.445.495
3.97161.2255.545
4.13391.315.85
4.25341.365.61
4.33411.2955.95
4.29561.465.76
3.93951.395.39
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4.40850.9355.41
3.51610.845.015
3.37280.534.87
3.83830.615.31
3.80910.6955.33
3.6920.785.09
3.96590.85.2
3.81810.95.16
4.21090.9955.73
3.89680.9855.61
3.60011.1755.36
4.12971.195.76
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4.80981.316.055
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5.08931.376.1
5.41541.396.34
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5.02921.3656.03
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4.24371.315.23
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5.9741.9156.38
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5.6241.486.01
5.351.415.515
5.2381.665.525
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6.853.248.92
6.683.468.74
6.323.2358.9
6.083.4958.665
5.613.258.04
5.573.078.48
5.752.8758.14
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6.293.2659
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United States
Australia
Japan
Percent
Ten Year Government Bond Yields
rates
Fed Funds
United Kingdom
Report date:04-May-2007
Legend
USA14030 =Policy Rates Fed Funds Rate (Effective), Percent, Average - United States
USA14021 =Government Benchmarks 10 year, Yield, Percent, End of Period - United States
GBR14020 =Government Benchmarks 10 year, Yield, Percent, End of Period - United Kingdom
DEU14020 =Government Benchmarks 10 year, Yield, Percent, End of Period - Germany
JPN14020 =Government Benchmarks 10 year, Yield, Percent, End of Period - Japan
AUS14020 =Government Benchmarks 10 Years, Yield, Percent, End of Period - Australia
DatesUSA14030USA14021GBR14020DEU14020JPN14020AUS14020
31-Dec-20074.021.516.33
30-Nov-20073.941.486.00
31-Oct-20074.471.616.17
30-Sep-20074.591.696.15
31-Aug-20074.531.615.92
31-Jul-20074.745.214.351.806.03
30-Jun-20075.025.464.571.886.26
31-May-20074.895.264.421.756.02
30-Apr-20074.625.044.151.665.88
30-Mar-20075.264.654.944.071.655.89
28-Feb-20075.264.574.803.961.645.70
31-Jan-20075.254.814.984.091.715.94
29-Dec-20065.244.704.743.961.695.88
30-Nov-20065.254.464.513.691.665.60
31-Oct-20065.254.604.523.741.735.67
29-Sep-20065.254.644.523.711.695.51
31-Aug-20065.254.734.523.761.625.68
31-Jul-20065.244.984.603.921.945.85
30-Jun-20064.995.154.704.071.935.80
31-May-20064.945.134.593.961.825.74
28-Apr-20064.795.064.613.961.935.70
31-Mar-20064.594.864.403.771.795.43
28-Feb-20064.494.554.193.491.605.30
31-Jan-20064.294.524.153.461.585.36
30-Dec-20054.164.404.093.301.485.20
30-Nov-20054.004.494.203.451.445.35
31-Oct-20053.784.564.333.391.555.48
30-Sep-20053.624.334.293.161.495.37
31-Aug-20053.504.024.153.111.365.06
29-Jul-20053.264.284.313.251.325.14
30-Jun-20053.043.924.173.131.185.06
31-May-20053.003.994.313.271.255.16
29-Apr-20052.794.214.533.401.255.35
31-Mar-20052.634.494.693.631.345.67
28-Feb-20052.504.384.783.691.485.57
31-Jan-20052.284.134.603.541.345.41
31-Dec-20042.164.224.543.681.435.33
30-Nov-20041.934.364.593.791.455.24
29-Oct-20041.764.034.743.871.495.40
30-Sep-20041.614.124.833.991.445.47
31-Aug-20041.434.124.924.021.545.59
30-Jul-20041.264.485.094.211.865.85
30-Jun-20041.034.585.104.311.795.87
31-May-20041.004.665.154.381.525.86
30-Apr-20041.004.514.984.171.545.95
31-Mar-20041.003.844.753.941.445.50
27-Feb-20041.013.974.774.051.235.55
30-Jan-20041.004.134.914.241.315.85
31-Dec-20030.984.254.774.291.365.61
28-Nov-20031.004.335.044.471.305.95
31-Oct-20031.014.305.024.321.465.76
30-Sep-20031.013.944.543.991.395.39
29-Aug-20031.034.474.614.201.465.55
31-Jul-20031.014.414.534.190.945.41
30-Jun-20031.223.524.173.810.845.02
30-May-20031.263.374.073.730.534.87
30-Apr-20031.263.844.334.090.615.31
31-Mar-20031.253.814.304.050.705.33
28-Feb-20031.263.694.183.920.785.09
31-Jan-20031.243.974.294.060.805.20
31-Dec-20021.243.824.384.190.905.16
29-Nov-20021.344.214.684.481.005.73
31-Oct-20021.753.904.574.520.995.61
30-Sep-20021.753.604.384.271.185.36
30-Aug-20021.744.134.634.581.195.76
31-Jul-20021.734.464.874.751.315.98
28-Jun-20021.754.815.024.941.316.06
31-May-20021.755.045.275.171.396.22
30-Apr-20021.755.095.205.121.376.10
29-Mar-20021.735.425.305.221.396.34
28-Feb-20021.744.875.004.961.535.96
31-Jan-20021.735.054.894.911.485.99
31-Dec-20011.825.035.075.001.376.03
30-Nov-20012.094.754.664.561.365.58
31-Oct-20012.494.244.524.401.315.23
28-Sep-20013.074.594.884.791.415.51
31-Aug-20013.654.844.854.791.385.55
31-Jul-20013.775.065.004.881.346.06
29-Jun-20013.975.425.295.101.196.08
31-May-20014.215.395.205.171.246.03
30-Apr-20014.805.345.115.031.295.83
30-Mar-20015.314.914.844.701.285.31
28-Feb-20015.494.904.874.761.355.26
31-Jan-20015.985.114.844.801.505.35
29-Dec-20006.405.114.894.841.645.45
30-Nov-20006.515.484.895.011.625.76
31-Oct-20006.515.765.185.221.826.18
29-Sep-20006.525.815.205.231.886.20
31-Aug-20006.505.735.345.301.886.28
31-Jul-20006.546.045.225.201.676.26
30-Jun-20006.536.035.195.201.766.17
31-May-20006.276.295.185.211.656.28
28-Apr-20006.026.225.215.301.766.42
31-Mar-20005.856.025.245.221.786.40
29-Feb-20005.736.415.455.501.836.68
31-Jan-20005.456.665.735.541.727.19
31-Dec-19995.306.445.485.351.636.95
30-Nov-19995.426.195.235.131.826.66
29-Oct-19995.206.035.405.161.806.64
30-Sep-19995.225.885.625.081.716.31
31-Aug-19995.075.975.184.901.926.38
30-Jul-19994.995.925.404.811.796.25
30-Jun-19994.765.795.074.491.906.30
31-May-19994.745.624.864.121.486.01
30-Apr-19994.745.354.603.911.415.52
31-Mar-19994.815.244.584.001.665.53
26-Feb-19994.765.294.634.0
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