Welcome to our November 2023 Market Update Video!
Do you know which is historically, the worst month for the stock market? Most of us may recall Black Monday in 1987 when the Dow opened down over 22% in a day and think it may be October. The answer is actually September.1
After 3 months of declines in stocks, October topped it off with stocks falling another 2.2%.2 So do you want to hear the good news?
Stocks have only fallen 3 months in a row 11 different times in history and never 4 months! Want to hear some more good news? November is historically the best month for stocks.3
So why all of the volatility. I feel that as long as the Federal Reserve had been on its campaign to raise rates, stocks have had trouble making much headway. In their recent, early-November meeting they indicated a pause to see how the effect of higher rates take hold.4
With the 10-year US Treasury yield closing October at 4.87%, I believe we’ve seen quite a change from the “0%” interest rate world of a couple years ago.5
As savers, we don’t have to go find earnings and can simply sit and earn a good rate while waiting to see fi stocks are truly ready to rebound.
In moving to wrap-up, we now enter a time of the year I love. Thanksgiving and the holiday season approach and I can’t thank each of you for your support and relationships. It has been a year since forming True Private Wealth and I am excited at what lies ahead. Happy Thanksgiving to you and your family!
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