What we’re reading (5/15)
“The Great Yield Chase: Why A Trillion Has Fled Traditional Bank Accounts” (Forbes). “‘The opportunity cost of zero interest checking didn't really matter two years ago, whereas now you're leaving decent yield and cash flow on the table by not moving cash around and being really opportunistic and thoughtful about it,’ says Margaret Wright, a managing director and senior wealth advisor at Truist Wealth in Atlanta. ‘We've all been so yield starved,’ she adds. ‘All of a sudden you see these percentages and people are excited.’”
“Where Can You Put Your Cash Besides A Bank Account?” (The Week). “Alternatives to traditional savings accounts might be especially worth considering if you have funds in excess of the amount covered by FDIC insurance (or NCUA insurance, if your money is at a credit union), or if you're hoping to earn slightly better returns. Plus, ‘the insurance limit has not changed since 2008 and is not indexed to inflation,’ Kiplinger points out.”
“Consumer Debt Passes $17 Trillion For The First Time Despite Slide In Mortgage Demand” (CNBC). “That increase came even though new mortgage originations, including refinancings, totaled just $323.5 billion, the lowest level since the second quarter of 2014. The total was 35% lower than in the fourth quarter of 2022 and 62% below the same period a year ago.”
“Egg Prices Are Crashing. Here’s Why” (CNN Business). “As of last week, Midwest large eggs — the benchmark for eggs sold in their shells — cost just $0.94 per dozen in the wholesale market, according to Urner Barry, an independent price reporting agency. That’s a sharp fall from $5.46 per carton just six months ago. (In retail, prices are well above $1 per carton, though they too have been declining.)”
“The Forever Labor Shortage” (Insider). “By any objective measure, the balance of power in the job market should be tipping back to employers. Strangely, though, it isn't. Ask pretty much anyone who's hiring these days, and they'll tell you something curious: It remains incredibly hard to find and hire enough qualified people for the roles they're desperately trying to fill. Somehow, workers still hold the power — and a massive shift that's underway in the labor market could keep it that way forever. The shift boils down to demographics.”
