Our PureVest Weekly Roundup looked at the latest news from the Federal Reserve’s meeting on Wednesday. They have pivoted from a “Tightening Cycle” to an eventual “Cutting Cycle”; three rate cuts are expected in 2024. Treasury yield fell sharply following the Fed’s announcement; this drove down mortgage rates below 7%. Costco reported strong earnings Thursday night and announced a $15 special dividend. You can learn more about special dividends in our Education section. Over three dozen mutual funds converted to exchange-traded funds in 2023. The primary driver of these conversions is the tax efficiency that exchange-traded funds provide over mutual funds. Congress agreed on the latest defense bill that will now head to Biden’s desk. Spending on our military will increase by 3% next year. Enjoy the light reading, and have a great weekend!
Markets & Economy:
Federal Reserve signals interest rate cuts next year
source:www.bbc.com
10-year Treasury yield slips, adds to this week’s steep decline
source:www.cnbc.com
Will mortgage rates ever fall to 3% again?
source:www.cbsnews.com
Costco Stock Climbs After Earnings Beat, $15 Dividend Payout; Analysts Raise Price Targets
source:www.investors.com
Many mutual funds are converting to exchange-traded funds. Here’s what investors need to know
source:www.cnbc.com
General Motors says 1,300 workers will be laid off at two Michigan plants
source:www.cnnnews.com
Congress passes $886 billion defense policy bill, Biden to sign into law
source:www.reuters.com
Education:
What Is a Special Dividend, Examples, How It Is Taxed
source:www.investopedia.com