- Most investors fear a recession, however, the average US stock performance during a recession was +1%. Additionally, just 1 year after a recession the return increased to an amazing +24.5%.
- The average annual growth rate of the U.S. prime working-age population is projected to slow to just 0.2% over the next 3 decades, down from a 1% average annual growth rate over the past 40 years. By 2100, as much as two-thirds of the country could be out of the workforce and financially dependent on the remaining one-third.
- Consumers who carry a balance on credit cards are now paying an average annual interest rate of 17.96%, the highest level since 1996.
- The volatility of the markets has drastically reduced the number of companies looking to go public this year, with just 58 companies having used traditional IPOs to list their shares, raising $4.6 billion. This compares to 283 traditional offerings for the same period in 2021, which collected $96.4 billion.
Morningstar- "US Stock Performance During Recessions"
Barrons- "The Labor Shortage Will Get Worse and May Last for Decades"
Barrons- "Chobani's IPO Would Have Been a Big One. Now It's Gone."
Bloomberg- "Credit Card Interest Rates Hit Highest Level in More Than 25 Years"
Economic Calendar
Monday: None Scheduled
Tuesday: S&P U.S. services PMI (final) (Aug), ISM services index (Aug)
Wednesday:
International trade balance (Jul), Cleveland Fed President Loretta Mester speaks, Fed Vice Chair Lael Brainard speaks, Fed Vice Chair for Bank Supervision Michael Barr speaks
Thursday:
Initial jobless claims (Sep), Continuing jobless claims (Aug), Fed Chair Jerome Powell speaks, Average consumer expenditures (2021),Quarterly services survey (Q2), Chicago Fed President Charles Evans speaks, Consumer credit (Jul)
Friday: Wholesale inventories revision (Jul),Chicago Fed President Charles Evans speaks, Kansas City Fed President Esther George speaks, Fed Gov. Chris Waller speaks
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