42% of U.S. adults report being financially dependent on their parents, including 53% of Millennials and 33% of Gen Xers. Additionally, one in five do not expect to ever achieve financial independence. 1
The 2020s have been the worst decade on record for bond investors, with 10-year Treasuries returning -0.5% annually. By comparison, annualized returns were 12.0% in the 1980s and 7.4% in the 1990s. *2
Financial anxiety is no longer limited to lower-income households. A Wall Street Journal survey found that 86% of upper- and upper-middle-class Americans believe their children will be worse off financially than they are, up from 64% in 2019. 3
Alphabet (Google) is replacing Verizon in the Dow Jones Industrial Average. Historically, companies added to the Dow have gained an average of just 0.4% over the following year. *4
MFS - "Beyond the News"
A Wealth of Common Sense - "Why Are Investors Holding More Cash?"
WSJ - "America's Economic Anxiety Is Rising Up the Income Ladder"
Barron's - "Alphabet Joined the Dow—and It Didn't Help. What to Do With the Stock Now"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
No events scheduled
Tuesday:
S&P CoreLogic Case-Shiller Home Price Index (Apr), Chicago PMI (Jun), Consumer Confidence (Jun), JOLTS Job Openings (May)
Wednesday:
ADP Employment Report (Jun), U.S. Manufacturing PMI (Jun), ISM Manufacturing PMI (Jun), Construction Spending (May)
