Retirement? Four in 10 Americans don’t see it ever happening – BNN Bloomberg
— Read on www.bnnbloomberg.ca/retirement-four-in-10-americans-don-t-see-it-ever-happening-1.1269777
10-year Treasury yield drops to lowest since 2017 after jobs report
Treasury yields fell Friday after the U.S. government said the economy added far fewer jobs than expected during the month of May.
— Read on www.cnbc.com/2019/06/07/us-treasurys-edge-lower-as-investors-await-jobs-data.html
No longer a question of if Fed will cut interest rates, but when
Economists say it’s now likely the Fed will cut rates this year, possibly as early as July.
— Read on www.cnbc.com/2019/06/07/its-no-longer-a-question-of-whether-the-fed-will-cut-interest-rates-but-when.html
Europe’s 5G to cost $62 billion more if Chinese vendors banned: telcos – Reuters
A ban on buying telecoms equipment from Chinese firms would add about 55 billion euros ($62 billion) to the cost of 5G networks in Europe and delay the technology by about 18 months, according to an industry analysis seen by Reuters.
— Read on www.reuters.com/article/us-huawei-europe-gsma/europes-5g-to-cost-62-billion-more-if-chinese-vendors-banned-telcos-idUSKCN1T80Y3
Canadian Unemployment Rate Falls to Lowest Since at Least 1976 – Bloomberg
Canadian Unemployment Rate Falls to Lowest Since at Least 1976 – Bloomberg
— Read on www.bloomberg.com/news/articles/2019-06-07/canadian-unemployment-rate-falls-to-lowest-since-at-least-1976
S&P 500 (SPX) Having Best Week of 2019 – Bloomberg
The S&P 500 Index is on pace to post its biggest weekly gain since November 2018, trading above its 50-day moving average for the first time since last month’s sell-off.
— Read on www.bloomberg.com/news/articles/2019-06-07/s-p-500-blasts-above-50-day-moving-average-in-best-week-of-2019
Rule of 72
What does the Rule of 72 mean? It is rule stating how long it will take to double your money at any given interest rate. You divide the compound return by 72. This will give you an approximation of the number of years for your investment to double.
Example:
7% interest rate formula: 72/7=10.28 (it will take 10.28 years for your investment to double with a 7% interest rate)
Note: We would be fortunate today as consumers receiving this kind of return on GICS or Dividend Stocks.
12% interest rate formula: 72/12=6 (it will take 6 years for your investment to double with a 12% interest rate)
24% interest rate formula: 72/24=3 (it will take 3 years for your investment to double with a 24% interest rate)
Note: The credit card companies make this kind of return easily when consumers have outstanding balances on their credit cards and only pay the minimum. As you can see your debt will double in less than 3 years with a 24% credit card interest rate. The higher the rate the quicker the doubling of debt.
Sam Latella