Market Watch: Student Loans Update, Treasury Yields, Oil Price Trends

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Market Watch: Student Loans Update, Treasury Yields, Oil Price Trends

SPY
S&P 500
Last Week: 0.30%
YTD: 24.81%
1 Year: 24.81%
DIA

Dow Jones Industrial Average

Last Week: 0.88%
YTD: 13.78%
1 Year: 13.78%

ONEQ
NASDAQ

Last Week: 0.07%
YTD: 45.37%
1 Year: 45.37% 

Russell 2000

Last Week: -0.02%
YTD: 15.75%
1 Year: 15.75% 

Large Growth
YTD: 36.63%
1 Year: 26.17% 
*As of 11/30/2023
Large Value
YTD: 5.03%
1 Year: 2.21%
*As of 11/30/2023

Student Loans

The Presidential Administration has offered an “on-ramp” to repayment for borrowers of student loans. This is not the same payment pause that was offered for the last few years during Covid, but a period where there will not be a penalty or fee assessed if you do not make a payment through September 30th, 2024. Interest will still be accruing, which could cause a larger payment next October if borrowers do not make any payments until then.

10-Year Treasury

The yield on the 10-year Treasury note changed little on Friday during the last trading day of 2023. The Treasury yield was a rollercoaster in 2023, as the Fed aggressively raised rates, causing Treasury yields to soar during the year. The big question going into 2024 is whether the Fed will be able to lower rates. The Fed said earlier in December that they expect to be able to cut rates up to three times next year, but some are hopeful for even more cuts.

Oil Prices

Prices of oil will end the year 10% lower in 2023. This is the first annual decline since 2020. A bearish sentiment due to the over supply of oil by OPEC. Oil prices will end negative despite a major conflict and geo-political risk in the Middle East and the threat of supply and shipping issues in the Red Sea. Not only is OPEC pumping out large quantities of oil, but so is the US. Last week, the US was pumping over 13.3 million barrels per day. OPEC and allies have agreed to cut output during the first quarter of 2024. Occidental CEO Vicki Hollub warned the industry in December “it would be prudent of the US producers to be careful in terms of putting too much supply in the market.”
  • Alex Wolfe

    Alex is a Certified Financial Planner™. He brings nearly a decade of experience working with individuals, families, and business owners. Prior to working for Base Wealth Management, Alex worked for Fidelity Investments and an independent wealth management firm in Venice, FL. Through many years of practice, he specializes in helping clients navigate their financial goals through comprehensive financial planning. He received his bachelor’s degree in economics from Texas A&M University.

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2022 Tax Document Information

As a Base Wealth Management client, you should receive your paper tax documents via mail in the coming weeks. Or, if you previously had an online account with Pershing’s NetX360, you should be able to access your 2022 tax documents through that portal. 

If not, or if you experience any issues, please reach out to Tim O’Brien (tim.obrien@intervestintl.com).

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