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The clean-energy sector is experiencing a multi-billion-dollar loss this year. Delays, project cancellations, and a decrease in solar panel purchases have led to a 32% decline in the Invesco Clean Energy ETF this year, with 76 out of 77 stocks in the fund dropping. 1
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Research from the past 50 years shows that small-caps and growth stocks outperform when interest rates stop rising, with average annualized gains of over 26% during the first half of rate plateaus, compared to 21.4% for the overall market. *2
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Higher interest rates are starting to impact the way people buy cars. Only 22% of people chose to lease their car in October (down from 30% three years ago). The average interest rate on a new car loan was 7.6% and 11.6% for a used car loan. 3
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Even after the Supreme Court rejected his $400 billion forgiveness plan, President Biden has continued to focus on the issue. Recent changes to existing loan programs have led to over $127 billion in debt (belonging to over 3.6 million people) being forgiven. 4
- Barrons- "Clean-Energy Stocks Have Collapsed. What Comes Next."
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WSJ - "If Interest Rates Are Peaking, What Investments Are Likely to Do Best?"
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WSJ - "Should You Get a Lease or a Car Loan?"
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Bloomberg- "Biden Has Wiped Away $127 Billion in Student Loan Debt"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
Fed Governor Lisa Cook speaks, Monthly U.S. federal budget (Oct)
Tuesday:
New York Fed President John Williams speaks, Fed Vice Chair Philip Jefferson speaks, NFIB optimism index (Oct), Consumer price index (Oct), Core CPI (Oct), CPI year over year, Core CPI year over year, Fed Vice Chair for Supervision Michael Barr testifies to Senate panel, Chicago Fed President Austan Goolsbee speaks
Wednesday:
Producer price index (Oct), Core PPI (Oct), PPI year over year, Core PPI year over year, U.S. retail sales (Oct), Retail sales minus autos (Oct), Empire State manufacturing survey (Nov), New York Fed President John Williams speaks, Business inventories (Sep), Fed Vice Chair for Supervision Michael Barr testifies to House panel, Richmond Fed President Tom Barkin speaks
Thursday:
Fed Vice Chair for Supervision Michael Barr speaks, Initial jobless claims (Nov), Import price index (Oct), Import price index minus fuel (Oct), Philadelphia Fed manufacturing survey (Nov), Cleveland Fed President Loretta Mester speaks, Industrial production (Oct), Capacity utilization (Oct), New York Fed President John Williams speaks, Home builder confidence index (Nov), Fed Governor Christopher Waller speaks, Fed Vice Chair for Supervision Michael Barr speaks, Fed Governor Lisa Cook speaks
Friday:
Housing starts (Oct), Building permits (Oct), Boston Fed President Susan Collins speaks, Fed Vice Chair for Supervision Michael Barr speaks, Chicago Fed President Goolsbee speaks, San Francisco Fed President Daly speaks, Boston Fed President Susan Collins TV appearance
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