Mortgages Hamper Fed

February 27, 2023

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

The rise in interest rates has less of an impact on household expenses today than it did in the past. Before the 2008 financial crisis, 40% of mortgages were adjustable rate. Now only 10% of mortgages are adjustable, so most homeowners have fixed rates. ₁

Emerging markets have had a negative return over the last five years. Yet, this bodes well for the future. Since 1994, emerging markets have never lost money in any 5-year period following a negative 5-year period and have had an average return of 17.2%. ₂

The US Strategic Petroleum Reserves (SPR), an emergency stockpile of crude oil that the government keeps, has hit its lowest point since 1983. The reserve has dropped from 656 million barrels in July of 2022 all the way down to just 346 million in February. ₃

The pace of innovation seems to be increasing exponentially. To reach 1 million users, it took Netflix 3.5 years, Facebook 10 months, and Spotify 5 months. The new artificial intelligence chatbot (ChatGPT), however, reached 1 million users within five days! ₄

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Bloomberg - "‘What Everyone Got Wrong About the Economy - and the Ominous Implications for the Fed"
Morningstar - "Time to Consider Emerging Markets?"
Datatistic - "Strategic Petroleum Reserves Now Lowest Since August 1983"
Capital Ideas - "3 Views on the Future of Growth Investing"

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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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