Published on: June 2, 2023

NetWorth Radio Advance Report - June 5, 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 June 5, 2023.

Advance Report

Radio Show

Q: How did the Treasury Market react this week during debt ceiling negotiations and what can it tell investors?
A: One interpretation is that the risk of default is subsiding as interest rates have recently dropped.
Q: What areas of the economy have seen the greatest demand increase for oil in 2023?
A: Global air travel is up 52% from March 2022 to March 2023.
Q: With the recent 10-year withdrawal requirement on IRA’s, how could heirs minimize taxes and preserve the legacy?
A: Stay tuned for the formula during today’s Profit Report.


J.P.Morgan Guide to the Markets 2nd Quarter 2023, pg. 22 (04/30/2023)

Courtesy of J.P.Morgan Asset Management

C.B.O.E. Short Term Interest Rate Index, 10 Year Treasury Note Yield Index & 30 Year Treasury Bond Yield Index (12/30/2022 – 06/02/2023)

– Courtesy of Bloomberg LP

Standard & Poor’s CoreLogic Case-Shiller Dallas Home Price Index, Non Seasonally Adjusted (06/30/2018 – 03/31/2023)

– Courtesy of Bloomberg LP

Dow Jones Industrial Average (12/30/2022 – 06/02/2023)

– Courtesy of Bloomberg LP

Evolution of Atlanta Fed GDPNow Real GDP Estimate for 2023 – Q2 (06/01/2023)

– Courtesy of The Atlanta Federal Reserve

Standard & Poor’s CoreLogic Case-Shiller U.S. National Home Price Index, Non Seasonally Adjusted (06/30/2018 – 03/31/2023)

– Courtesy of Bloomberg LP


Headline Round Up

*Prices of North Texas Homes down 7% from June 2022, BUT Positive Year to Date. Home prices still down 1.5% since March 2022. Possible national trend?
*Quant Fund Buying Contributes to Relative Stock Market Calmness. Machines loading up on stocks while regular investors stay out?
*Carlos Slim Becomes the Latest Billionaire to Go Big on Oil!
*ConocoPhillips Buys the Rest of Canadian Project from TotalEnergies, SE for $3.3 Billion.
*Solar Power Investments Set to Overtake Oil Investments for First Time in History!
*Bad Behavior Driving U.S. Manufacturer Exit from China?
*Albemarle Becomes World’s Most Valuable Lithium Producer.
*Oil Price Bearishness Hits Pandemic Levels?
*Global Air Travel Up 52% from March 2022 to March 2023!
*Huge Discounts on New York City Office Buildings! Investment firm Blackstone takes a $500 million hit.
*Tesla Poised to Become King of Electric Vehicle (EV) Charging Stations in Deal with Ford.
*World’s First Battery Tanker?
*Artificial Intelligence (AI) Boom! Hedge funds using AI to speed up analysis and write code amidst chip shortages & Armageddon warnings?
*Soaring Investor Bets on Treasury Interest Rate Drop!
*Steelmaker Nucor, Inc. Hires Exxon to Capture Carbon?
*Retail Deflation? Macy’s Cuts Full Year Outlook for 2023.
*Hydraulic Fracking Technology Breakthroughs Could Double Oil from Shale Wells.
*Plaid, Inc. Leads Digital Transaction Platforms. Alex, is that blockchain too?


Profit Report

1. With the recent new 10-year withdrawal requirement on IRA’s, how will my heirs minimize taxes and preserve the legacy?
  • Method for an Annual Distribution¹: Annual Distribution = Value – (Value/10-t)*
    *t = Years from Start
    *Value = Current Balance at Distribution
¹The material presented above is for informational purposes only. Any changes to your tax situation should be discussed with your chosen tax professional.
2. What are 3 of the biggest mistakes clients can make in retirement planning and how do we avoid them?
  • Retiring too soon: Avocation Phase.
  • Overfunding kids and grandkids during retirement: Set clear, defined boundaries and stick to them.
  • Overspending: 80% of free cash flow leaves a 20% reinvestment rate.


Research Round Up!

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

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