Published on: May 19, 2023

NetWorth Radio Advance Report - May 22, 2023

In this NetWorth Radio Advance Report, Spencer McGowan, President of McGowanGroup Asset Management, delivers financial news and intelligence with insights you can act on for May 22, 2023.

Advance Report

Radio Show

Q: What are the latest updates on the U.S. debt ceiling and default debates?
A: In a shocking moment of common sense, President Joe Biden and House Speaker Kevin McCarthy say the U.S. won’t default. Improv theater debates continue.
Q: What is likely to happen in the financial markets between now and the end of July?
A: The Inflation numbers for May and June of 2022, the largest and 4th largest months of inflation in the current cycle, drop off the trailing 12 month measure. By mid-July, the inflation rate could fall significantly below 4.9% and below the current Federal funds rate of 5.25%.
Q: What were some of the financial market high points discussed this week at the McGowanGroup Wealth Management (MGWM) Investment Committee?
A: Stay tuned for this week’s NetWorth Radio Show!
J.P.Morgan Guide to the Markets 2nd Quarter 2023, pg. 22 (04/30/2023)

Courtesy of J.P.Morgan Asset Management

Dow Jones Industrial Average (12/30/2022 – 05/19/2023)

– Courtesy of Bloomberg LP

Evolution of Atlanta Fed GDPNow Real GDP Estimate for 2023 – Q2 (05/17/2023)

– Courtesy of The Atlanta Federal Reserve

U.S. Consumer Price Index – Urban Consumers Month over Month, Seasonally Adjusted (05/19/2021 – 04/30/2023)

– Courtesy of Bloomberg LP

U.S. Consumer Price Index – Urban Consumers Year over Year, Non Seasonally Adjusted (05/19/2021 – 04/30/2023)

– Courtesy of Bloomberg LP

U.S. New York Federal Reserve Index – Transition Serious Delinquency 90+ For Auto Loans by All Ages (03/31/2008 – 03/31/2023)

– Courtesy of Bloomberg LP

U.S. New York Federal Reserve Index – Transition Serious Delinquency 90+ For Credit Cards by All Ages (03/31/2008 – 03/31/2023)

– Courtesy of Bloomberg LP

Federal Funds Target Rate Index (05/19/2003 – 05/19/2023)

– Courtesy of Bloomberg LP


Headline Round Up

*House Speaker Kevin McCarthy Says Vote on Debt Ceiling Deal Possible Next Week!
*Q2 Gross Domestic Product (GDP) Now at 2.9% According to the Atlanta Federal Reserve. Déjà vu as investors start waiting for the “Looming Recession” again?
*The Federal Reserve is Poised for the Biggest Upward Revision on U.S. Economic Outlook Since 2021!
*Walmart Beats 1st Quarter Earnings/Revenue Expectation & Raises 2023 Full Year Guidance!
*April Retail Sales Spike.
*Home Builders Soar to New Highs on Demand for Housing!
*Airline Bookings Up 35% From May – September 2022 on Strong Summer Bookings with Asia Pacific Region Leading!
*Billionaire Hedge Fund Manager Paul Tudor Jones Says Fed Hikes Done, Stocks to Finish the Year Higher!
*CEO’s Amass Billions in “Top Hat” Nonqualified Deferred Compensation Plans!
*JPMorgan Says Markets are Right to Bet on Interest Rate Cuts, but When?
*Scamsters! Jobless Claims Tumble After Fraud Related Spike Eliminated.
*Canadian Solar Revenue up 36% in the 1st Quarter and Profit Spikes.
*Nuclear Power Helps Bring Down Finland Electricity Prices by 75% From December to April 2023.
*New York Rents Spike to Record so Far in 2023?
*Blistering Rally in Artificial Intelligence (AI) Stocks! New Exchange Traded Fund (ETF) Ticker CHAT.
*Pipelines Too Cheap? Oneok, Inc. to Buy Magellan Midstream Partners, LP in $19 Billion Deal.
*India Leads in “Laundering” Russian Oil Exports to Europe.
*Global Oil Demand Reached Record Level in March Per Saudi based International Energy Forum.
*PIMCO Likes Emerging Market Global High Yield Bonds!
*Oh, That’s Brilliant? Tether Holdings, Ltd., Largest Stablecoin Operator, to Put Reserves in Bitcoin?


Profit Report

Discussion notes on career best and worst investment decisions made by the MGWM Investment Committee members.


Research Round Up!

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*PIMCO: Debt Ceiling Debate!
*Nuveen: Tightening Cycle Over.
*Calamos: Why Bullish on Energy?

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