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Good News For the Markets? Not Just Yet.

Brett Hammond, Chief Investment Strategist

Chapter 1: Introduction

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TIAA-CREF Market Commentary

  • Market Monitor
    A weekly view of the markets and topics of broad financial interest.
  • Kamp's Comments
    Commentary on the economy and financial markets from Leo Kamp, Chief Economist.

The data described in the video is as of 6/30/08. The asset classes described in this video carry unique risks. Past performance is no guarantee of future results.

This material has been prepared by and represents the views of Brett Hammond, and does not reflect the views of any TIAA-CREF affiliate. These views may change in response to changing economic and market conditions. Any projections included in this material are for asset classes only, and do not reflect the experience of any product or service offered by TIAA-CREF. The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service.

Real estate investing involves risk such as fluctuations in property values, higher expenses or lower income than expected, and potential environmental problems and liability. Commodity investing involves risks such as sharp fluctuations in commodity prices, extensive use of leverage and potential illiquidity of commodity investments.

VIX (Market Volatility Index) is an index designed to track market volatility. The index is used as an indicator of investor sentiment and calculated based on option activity. High index values typically imply pessimism and low values typically imply optimism.

Brett Hammond is available to comment on economic data. Please contact Chad Peterson, Media Relations, 1 212 916-4808 or email cpeterson@tiaa-cref.org.

TIAA-CREF Asset Management is a division of Teachers Advisors, Inc., a registered investment advisor and wholly owned subsidiary of Teachers Insurance and Annuity Association (TIAA). TIAA® personnel in its investment management area provide investment advice and portfolio management services through the following entities: Teachers Advisors, Inc., TIAA-CREF Investment Management, LLC, and Teachers Insurance and Annuity Association® (TIAA®). TIAA, TIAA-CREF, Teachers Insurance and Annuity Association, TIAA-CREF Asset Management and FINANCIAL SERVICES FOR THE GREATER GOOD are registered trademarks of Teachers Insurance and Annuity Association.

©2008 Teachers Insurance and Annuity Association-College Retirement Equities Fund, New York, NY 10017

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© 2008 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017