U.S. GDP revised lower to 3.1% in 2019’s first quarter

U.S. first quarter GDP was revised lower to 3.1% on Thursday, a slightly slower pace of growth than the 3.2% annual growth rate the government first estimated, thanks in part to companies spending less money on capital expenditures than initially thought. Between the lines: The number, which doesn’t take into account any impact from the … Read moreU.S. GDP revised lower to 3.1% in 2019’s first quarter

Investor Demand Remains Strong for Municipal Bond Funds

Municipal debt funds (including both mutual funds and ETFs) took in $1.5 billion in net new money for the fund-flows week ended Wednesday, May 22. These results marked the group’s twentieth straight weekly net inflow (every week this year), during which time they’ve grown their coffers by $36.8 billion. Demand for muni bond funds during … Read moreInvestor Demand Remains Strong for Municipal Bond Funds

Fathom’s US Economic Sentiment Indicator on the decline again in April

After a small uptick in March, Fathom’s US Economic Sentiment Indicator (US ESI) declined again last month, touching a 29-month low of 3.8%. Looking ahead, it would not be a surprise if both GDP growth and sentiment continued to tick down this year and into 2020, as the effects of the large fiscal stimulus package … Read moreFathom’s US Economic Sentiment Indicator on the decline again in April

Cash is still king for investors heading into the summer slowdown

Stashing cash started during the global rout across financial markets late last year as investors worried about a global economic recession. Increasing a cash buffer is typical during times of economic and geopolitical strife. But hoarding has continued at unusually high levels even as global stocks have rallied this year amid conflicting signals after the … Read moreCash is still king for investors heading into the summer slowdown

America’s 3 wealthiest families have more money than 4 million average families combined

Three families of dynastic wealth — that’s the Walton, Koch and Mars families — have seen their wealth increase close to 6,000% since 1982, according to the Billionaire Bonanza report by the progressive think tank Institute for Policy Studies. Their combined wealth – a staggering $348.7 billion as of October 2018 – is more than … Read moreAmerica’s 3 wealthiest families have more money than 4 million average families combined

The woman who nailed the 2018 stock-market volatility blowup has kicked off an actively managed ETF

Nancy Davis, the chief investment officer and founder of advisory firm Quadratic Capital, is the brain behind a new exchange-traded fund on Wall Street that aims to offer investors ways to bet on inflation, the shape of the so-called yield curve and a sharp rise in interest rates. Quadratic Interest Rate Volatility & Inflation Hedge … Read moreThe woman who nailed the 2018 stock-market volatility blowup has kicked off an actively managed ETF

The Fed stopped raising rates, but credit card companies haven’t

Data: Reproduced from a Magnify Money chart; Chart: Axios Visuals The Fed hasn’t raised interest rates this year and isn’t expected to do so any time soon, but interest rates on credit cards are still increasing. U.S. card holders are expected to pay $122 billion in interest charges in 2019. That’s 12% more than what … Read moreThe Fed stopped raising rates, but credit card companies haven’t