Wealthy and ultra-rich glum and glummer

Confidence among affluent investors kept sinking in June, while millionaires expressed concern about the political climate.

Confidence among affluent investors continued to sink in June, while millionaires expressed more concern about the political climate.
The Spectrem Affluent Investor Index, which measures the investment outlook of households with between $500,000 and $1 million in investible assets, fell 4 points in June, after holding still in May.
The reading of -17 is the second lowest ever and is just 3 points north of its record low of -20, which was recorded in March.
Meanwhile, the Spectrem Millionaire Index, which measures the investment outlook of households with at least $1 million in investible assets, fell 3 points in June to a reading of -12, following a five-point increase in May.
With the decline, the millionaire index stands at its third-lowest level since both indexes were launched in February 2004.
The greatest concern of affluent investors was the economy (20%), followed by the political climate in the run-up to the election (12%) and market conditions (8%).
Meanwhile, millionaires fretted over the political climate (19%) and the economy (16%).
The indexes are put out on a monthly basis by Spectrem Group of Chicago.