- The cost of college tuition in the U.S. has increased by +1246% since the 1980s. This is a massive number even when compared to inflation which has increased by +285%.
- Gold was priced around $2,000 an ounce for just the 9th time ever on April 3rd after gaining 7.8% in the first quarter of 2023. In the last 25 years that gold has posted a gain in the 1st quarter, it averaged a rest-of-year gain of 12.4%.
- JPMorgan, Citigroup, and Wells Fargo reported more than $22 billion in profits last quarter, up by more than a third compared with a year ago. Combined revenue was more than $80 billion, up 19% from a year ago. JPMorgan’s stock jumped about 8% Friday, making it the best performer in the S&P 500.
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Yields on I savings bonds are falling, these inflation-linked bonds soared in popularity over the past two years as investors looked for ways to shield their cash from rising prices. Just a few months ago they were at a historic 9.62% rate. Now that figure is expected to fall to 3.8%.
Chart Daily - "U.S. Bureau of Labor Statistics"
MFS - "Beyond the News"
WSJ- "There Was No Crisis for JPMorgan and Its Big-Bank Peers"
Bloomberg- "I Bonds Lose Their Luster With Yield Set to Plunge Below 4%"
Economic Calendar
Monday:
Empire State manufacturing (Apr), Home builder confidence index (Apr), Richmond Fed President Tom Barkin speaks
Tuesday:
Housing starts (Mar), Building permits (Mar), Fed Gov. Michelle Bowman speaks
Wednesday:
Fed Beige Book, New York Fed President Williams speaks
Thursday:
Initial jobless claims (Apr), Continuing jobless claims (Apr), Philadelphia Fed manufacturing survey (Apr), Existing home sales (Mar), U.S. leading economic indicators (Mar), Fed Gov. Christopher Waller speaks, Cleveland Fed President Loretta Mester speaks, Dallas Fed listens with Dallas Fed President Lorie Logan and Fed Gov. Michelle Bowman, Atlanta Fed President Raphael Bostic speaks
Friday:
S&P flash U.S. services PMI (Apr), S&P flash U.S. manufacturing PMI (Apr), Fed Gov Lisa Cook speaks
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