MidSouth Week in Review
November 15, 2024

Weekly Update from Fund Manager Buzz Heidtke, MidSouth Investment Fund

S&P was down 2.4% for the week and the year-to-date it is up 23%.  The benchmark 10-year Treasury yield topped 4.5% for the first time since late May.  The average interest rate on a 30-year mortgage spiked to 6.9%, the highest since July.  Gold has fallen more than 5% in the week-to-date to $2,568.20 an ounce but still up 19% YTD, this is the sharpest sell-off since June 2021, driven by a strong U.S. dollar.  Sources:  Wall Street Journal and New York Times

Bitcoin - Bitcoin is officially the 7^th largest asset in the world, worth over $1 trillion. This week is hit a new high $91,350.  It has seen about $145 billion of inflows over the last week alone after the elections – Wall Street Journal

First Time Homebuyers – which made up 32% of all home purchase transactions in 2023 (1 in 3) plunged to just 24% in 2024 (1 in 4) – the lowest share recorded by NAR since data collection commenced in 1981 - @NAR_Research

Money-Market Assets – reportedly surpass $7 trillion for the first time ever says Crane Data via Bloomberg

Tesla Short Seller - Tesla short sellers have lost close to $7 billion in the last 10 days and the stock has risen 42% in the week since the election – Yahoo Finance

Credit Card - Over 11% credit card balances in the US are now 90+ days delinquent, the highest since 2012 - Charlie Bilello

Home Buyer - The average age of home-buyer is now a record-high 56, up from 49 in 2023 according to the National Association of Realtors, with the first time home buyers being responsible for just 24 percent of new homes purchase - CNBC

Households - Even households earning over $150,000 a year are living paycheck to paycheck - Bank of America

The Richest Man in Europe - https://www.instagram.com/reel/DBRIi9_M6bH/?igsh=dmdzb3hrNzAwemx4

What States Have The Highest Income Tax - https://www.instagram.com/reel/C_TWLuMPx-A/?igsh=b3p4Mzkxa2xpZ3Ez

Elvis - https://www.instagram.com/reel/C_6AJO8NGp-/?igsh=MTl5OGp1aXVjMGpzeA==

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