Feeling Richer or Not?

Market Sizzle: Feeling richer, confidence boost, Israel bonds, NYC property crisis ͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­ Forwarded this email? [Subscribe here]() for more [Feeling Richer or Not?]( Market Sizzle: Feeling richer, confidence boost, Israel bonds, NYC property crisis [Josh Belanger]( May 28   [READ IN APP](   Did you hear about the new trend in TV land? It seems like bundling is the latest craze, but not how you might think. While Comcast, Disney, and other big names are plotting their bundle takeovers, savvy streamers are already DIY-ing their own bundles. By sharing accounts with everyone from friends to former flames, they're saving big bucks. Maybe the real bundle was the friends we made along the way. Confidence Makes a Comeback US consumer confidence rose in May. It's the first increase in four months. People felt better about business and job markets. The Conference Board's sentiment index went up to 102 from 97.5 in April. This was higher than economists expected. Present conditions improved for the first time since January. Expectations for the future also rose, showing the biggest jump since July. But, concerns remain. Inflation is still high, household debt has hit a record, and the job market is weaker. The Federal Reserve's high-interest rates add to worries. Despite better views on jobs and business, many fear a recession. Concerns about rising prices, especially for food, impact people’s views. Some expect inflation to keep moving sideways. Overall, more Americans see the economy getting worse, but a few bright spots remain. Americans Richer: Real or Not? U.S. stocks hit new all-time highs last week. This made many Americans feel richer. Sixty-two percent of U.S. adults have money in stocks. Even low-income households are investing. The Nasdaq and S&P 500 set records in May. The Nasdaq was up by 8.1%, S&P 500 by 5.3%, and the Dow by 3.3%. Despite rising stocks, inflation is still a problem. High prices for goods worry many people. Some experts think the stock market’s rise makes controlling inflation harder. The Federal Reserve might raise interest rates again. They want to keep inflation at 2%, but it has stayed higher. The economy is in a tricky spot. Stock gains help some people feel good but can also keep prices up. The future will depend on how well we can balance these issues. Israel Bonds Fuel Controversy US investors bought $3 billion in Israel bonds since the conflict with Hamas began. Joseph Abruzzo, Palm Beach County's comptroller, invested $700 million in these bonds. He values their great returns and low risk. Since October 7 last year, Israel Bonds sold more than three times their usual amount. Florida, Indiana, and Ohio are among the biggest buyers. The bonds support Israel’s war efforts and account for a quarter of its external debt. They are popular for their yields, which are higher than US Treasuries. However, divestment campaigners protest these investments. They argue the funds could support the conflict in Gaza. Despite protests, Israel Bonds see strong support from US investors, contributing significantly to Israel’s funding. NYC Property is Crashing New York developer Aby Rosen owes billions in debt. His properties, like the Seagram Building, are struggling with high interest rates and low occupancy. Rosen bought the Seagram Building in 2000 for $375 million. He spent millions more to upgrade it. By 2013, it was worth $1.6 billion. Now, the building makes half the income it did before the pandemic. Refinancing is tough due to high rates and lower property values. Rosen has $2.5 billion in debt due soon. Some properties, like 285 Madison, owe more than they’re worth. RFR, Rosen’s company, faces lawsuits and missed payments. Many developers feel the pinch as office spaces remain empty. The future is uncertain for Rosen and others in the real estate market. Quick Sizzles: - ECB’s Rate Cut Gamble: Eurozone bank set to cut rates next week, despite Fed concerns. Chief economist says it's to curb inflation. - China’s $47B Chip War Chest: China raises $47bn for chips amid US restrictions. Tech stocks surge after funding news. - Musk’s $6B AI Power Play: Musk’s xAI raises $6bn, challenging OpenAI. Valuation hits $18bn, with major investors backing. That’s today’s Market Sizzle; good trading, good life! You're currently a free subscriber to [Josh Belanger](. For the full experience, [upgrade your subscription.]( [Upgrade to paid](   [Like]( [Comment]( [Restack](   © 2024 Josh Belanger 548 Market Street PMB 72296, San Francisco, CA 94104 [Unsubscribe]() [Get the app]( writing]()