Money Market Mania

March 20, 2023

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.

Fearful investors have piled cash into money market funds, which are now back at an all-time high of $4.8 trillion. The last time money market fund assets were as high was during the height of the pandemic in May 2020. ₁

The recent financial troubles of smaller US banks (i.e. excluding the 25 largest banks) could affect other parts of the economy since they provide 40% of all bank lending, including two-thirds of commercial real-estate loans and 70% of construction loans. ₂

Based on over 54 million processed tax returns, the average tax refund has fallen 11% to $3,028 from $3,401 a year ago. ₃

Last Thursday marked the 14th anniversary of the S&P 500’s financial crisis lows on March 9th, 2009 reached during the Great Recession. Since that low, the S&P 500's annualized return has been a gain of 15.8%. ₄

Join us on Monday, March 27, at Noon ET for "Investing in 2023: Strategies to Survive and Thrive."

We will explore the unique risks and challenges investors will face in the coming year and provide actionable insights to help you thrive in an ever-changing market.

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BlackRock - "Advisor Center"
WSJ - "Local Banks Could Leave Gaps That Will Are Hard to Fill"
Barron's - "Tax Refunds Will Be Lower This Year. it's Going to Squeeze Consumer Spending."
MFS - "Beyond the News"

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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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