As of October 31, 2023, gold prices have outperformed stock prices in 2023. According to CNBC, the spot price of gold had grown 9.4% in 2023 while the S&P 500 had only grown 8.5%. “[Thomas DiFazio, director of investment and technical macro strategy at Strategas] said that gold’s strong performance compared to...
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Market Insider: November 7, 2023
Gold prices have rallied as much as 10% throughout October, according to Financial Times, repeatedly reaching over $2000/oz. in late October and early November. JPMorgan’s top strategist recommends that consumers cut equities and instead allocate a portion of their portfolios to gold. “Our [economic] outlook is...
Market Insider: October 31, 2023
Rising interest rates have damaged housing affordability, and mortgage demand has fallen to the lowest level since 1995. Many homeowners are reluctant to sell their homes in the current environment, further restricting available housing. “Homebuying activity continues to pull back given reduced purchasing power from...
Market Insider: October 24, 2023
Over the course of 2023, volatility in the stock market has been credited to high interest rates and overvalued stocks. Based on technical signals and evaluation, analysts are predicting that more turmoil could be on the way. “Equity risk premium is near its worst ever level going back to 1927. In the 6 instances...
Market Insider: October 17, 2023
The U.S. federal debt reached a record high of $33 trillion in September 2023 and is growing rapidly. In conjunction with rising debt, rising interest rates make U.S. debt payments more costly for the government. “High and rising national debt will mean that more of the budget will go towards servicing that debt with...
Market Insider: October 10, 2023
After a series of bank closures earlier this year, regulators have placed more scrutiny on banks. In response to concerns surrounding stability in the banking sector, the FDIC has proposed new rules related to larger banks’ “living wills” and holdings of long-term debt. “If we had any doubts about the challenges in...
Market Insider: September 26, 2023
Inflation, as measured by the Consumer Price Index, was 3.7% higher on an annual basis in August, reversing a trend of falling inflation figures. According to Bloomberg, persistently elevated inflation has caused household incomes to fall by the largest margin since 2010. “This was bad news for Americans who feel...
Market Insider: September 19, 2023
Facing pressures from high interest rates, mortgage applications have plummeted to their lowest level since 1996. Homeowners who bought homes with low mortgage rates are reluctant to sell in a world where mortgages are now high, resulting in a limited supply of available homes. “Mortgage applications declined to the...
Market Insider: September 12, 2023
At the end of its fifteenth annual conference, the BRICS coalition of nations (Brazil, Russia, India, China, and South Africa) announced that six more countries will join the economic bloc. Members of BRICS have recently taken steps toward moving away from the dollar, and the addition of oil-producing nations like...
Market Insider: September 5, 2023
Typically, the FDIC only protects up to $250,000 in banking deposits, leaving the rest potentially more vulnerable to loss. After a wave of bank failures earlier this year, the FDIC was forced to step in and protect millions more in deposits. These extraordinary actions have forced regulators examine potential...
Market Insider: August 29, 2023
One week after Moody’s downgraded the credit ranking of several banks, an analyst from another firm, Fitch Ratings, warned that Fitch may also be forced to downgrade the rankings of many U.S. banks, including JPMorgan Chase, one of the largest financial institutions in the world. Ongoing concerns in the banking...
Market Insider: August 22, 2023
On August 8, 2023, credit rating firm Moody’s Investors Service downgraded the credit ratings of multiple banks and placed many others “under review.” These downgrades followed a slew of bank closures earlier in 2023 and reflect a sense of caution surrounding the banking system. “The collapse of Silicon Valley Bank...