Election Fears -- Investor Insights from Glen Eagle

Election Fears

January 2, 2024

Enjoy this week's "Investor Insights," a weekly newsletter highlighting the financial news you need and providing tips and tricks to help you make better investment decisions.

Investors get nervous during election years. In fact, flows into money market funds are 3x higher in election years compared to the year after an election. However, The S&P 500 had negative returns in only 2 of the last 20 election years (2000, 2008). *₁

In 1990, just 4% of Americans held passports, a large contrast to today's figure of 49%. Many believe this will continue to act as a tailwind for tourism stocks over the next few years. ₂

US mortgage rates ended 2023 at 6.61%, the lowest level since May. This is a large decline from the peak of 7.79% in October, raising optimism that this drop in borrowing costs will likely drive increased demand for home purchases in the upcoming months. *₃

A record-high 72% of stocks in the S&P 500 underperformed the index in 2023. This marks a 30% increase in underperformance compared to 2022. ₄

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Capital Group - "Investing in an Election Year"
Bloomberg Opinion - "Today 49% of Americans Have Passports"
Business Week - "US mortgage rates are ending the year at the lowest level since May, dropping to 6.61%"
Bloomberg - "Apollo Chief Economist"

*Past performance is not indicative of future performance

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Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter.

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