The Dividend Cafe Wednesday - September 25, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 25 September 2024
⏱️ 5 minutes
🧾️ Download transcript
Summary
Market Recap and Insights on Private Credit - September 25th
In this episode of Dividend Cafe, Brian Szytel provides a comprehensive market recap for September 25th, including fluctuating market figures with the Dow decreasing by 293 points and the S&P down by 0.2%. He discusses the steepening yield curve and a stronger dollar. Further insights include housing market data with new home sales down 4.7%, building permits, and mortgage rates dropping to a two-year low. Brian also addresses questions about private credit and its risks compared to the bond market. Tune in for more economic data updates expected tomorrow, including initial jobless claims, durable goods, GDP revision, and pending home sales.
00:00 Introduction and Market Overview
00:57 Market Recap and Economic Data
01:04 Private Credit Market Insights
01:50 Housing Market Update
02:53 Upcoming Economic Data
03:18 Conclusion and Sign Off
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividend Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:12.1 | Welcome to Dividendin Cafe. This is Wednesday, September the 25th. And Brian Saitel with you here in our West Palm Beach, Florida office, here on a stormy, rainy day. |
| 0:22.9 | And actually a bit of a down day in markets, although somewhat mixed, the Dow closed down 293 points. |
| 0:29.9 | The S&P was down about 0.2%, a little less. |
| 0:34.0 | So the Dow was down a little bit more. |
| 0:35.4 | We had some all-time high readings, and frankly, we were a little due for at least some equity consolidation, I would call it. |
| 0:41.9 | The NASDAQ actually closed basically flat. It was up 0.04% on the day. And we got some higher yields. The 10 year was up five basis points. We closed at 3.79. |
| 0:51.8 | And then that yield curve just continues to steepen here a bit. |
| 0:56.2 | And the 210 spread is now at 22 basis points. |
| 0:59.5 | So we've got some positive sloping yield curve, and that's generally considered a good thing |
| 1:04.1 | as far as future economic expectations. |
| 1:06.6 | The dollar was stronger by about a half a percent today. |
| 1:09.6 | So there's your market recap on the day. |
| 1:11.7 | There wasn't a lot of economic data out, but there was some housing numbers that I'll walk |
| 1:15.6 | through. |
| 1:16.5 | As we get into that, there was an Ask TPG in there about private credit and are the credit |
| 1:21.5 | ratings similar to the bond market where you'll have A versus double B, triple B, things like |
| 1:26.4 | that. |
| 1:26.7 | And yeah, there's ratings and |
| 1:28.0 | there's risks and there's duration and there's liquidity issues and all those same things in that |
| 1:32.1 | private credit market. But it's private rather than public. And so it definitely is a different |
| 1:36.3 | animal than the bond market. But so there's just sort of a range of these different credits and |
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