We’re moving up the weekly update because I’ll be on the road this weekend, trading screen time for windshield time on the trek up to northern Michigan to pick up my oldest daughter from camp. Before the miles roll by, here’s a fresh batch of fast facts that are short enough to read at a rest stop yet interesting enough to file away for your next conversation break. Enjoy the rundown—and safe travels if you’re road‑tripping, too.
Could this be the issue? Life expectancy has increased by 17 years since Social Security began in 1935; yet, the age at which full Social Security benefits start for seniors has only increased by two years since its inception, from 65 to 67. (Source: TIAA Institute)
$1,000 at Birth. A provision in the recently passed OBBB budget bill gives all babies in the U.S. a $1,000 investment account at birth. If you put $1,000 into the S&P 500 fifty years ago, it would be worth roughly $350,000 today, while $1,000 ten years ago would now be worth about $3.5k. (Source: Bespoke)
Less Down, More Borrowed. A record high, almost 20% of new car buyers committed to a monthly payment of over $1,000 during Q1, and a record 22% of all new car loans had terms of 84+ months. Buyers are financing a record $42,000 of their purchase, but the average down payment of $6,400 declined 2% y/y. (Source: Edmunds)
Gen Z, YOLO? A recent survey on planned spending and saving found that 77% of Gen Z adults spend more than they can afford due to “buy now, pay later” (BNPL) options, and nearly half (49%) of Gen Z respondents say that planning for the future feels pointless. (Source: Credit Karma)
Saving Less. In the same vein, a Morgan Stanley study found that while the percentage of workers saving for retirement remained roughly unchanged from a year ago, 39% of workers have cut back on their contributions to retirement plans. Gen Z has seen the most significant pullback, with 48% scaling back contributions. (Source: Barron’s)
20%+ in Two Months. The S&P 500 recently gained more than 20% over two months for just the sixth time in the last 70 years. Following the five prior two-month rallies of 20%+ in 1975, 1982, 1998, 2009, and 2020, the index was higher over the next one, three, six, and twelve months every single time, and the average gain over the next year was 31%. (Source: Bespoke)
Post-Buffett Blues. In the 26 trading days after Warren Buffett announced on May 3rd that he would step down as CEO of Berkshire Hathaway, BRK/B shares fell more than 9% versus a gain of 6% for the S&P 500. It was just the seventh time in the last 30 years that Berkshire shares underperformed the market by 15 percentage points or more in 26 days. (Source: Bespoke)
White-Collar Washout. According to employment data provider Live Data Technologies, U.S. public companies have cut the total number of white-collar employees by 3.5% over the last three years. During that period, the number of managers at U.S. public companies decreased by 6.1%, while executive-level roles declined by 4.6%. (Source: Wall Street Journal)
Sunbelt Struggles. 16.4% of nationwide home listings purchased post-pandemic (after July 2022) are at risk of selling for a loss. Of the 50 most populous U.S. metros, Austin, TX (47.5%), Tampa, FL (35.8%), and Orlando, FL (31.5%) have the highest share of active listings bought post-pandemic at risk of selling for a loss. (Source: Redfin)
Tariffs Tax Margins. In a KPMG survey of 300 US companies conducted in May, 57% reported that tariffs have negatively impacted their margins, while 77% of respondents said their companies are considering price increases of at least 5% in the next six months. (Source: Axios)
The “0” Curse. Three NBA stars injured their Achilles tendons during the 2025 postseason and needed surgery. Coincidentally (or maybe not?), all three – Damian Lillard of the Bucks, Jayson Tatum of the Celtics, and Tyrese Haliburton of the Pacers – wear the jersey number 0. (Source: Yahoo! Sports)
Markets / Economy
- Markets were mostly higher this week. The S&P finished the week up 0.6%, the Nasdaq was up 1.5%, and the small-cap Russell 2000 was up 0.2%.
- Core CPI, which excludes food and energy, rose by 0.2% from the previous month in June, following the 0.1% increase in May.
- The annual inflation rate in the U.S. accelerated for the second consecutive month to 2.7% in June, the highest level since February, up from 2.4% in May and in line with expectations.
- U.S. producer prices remained unchanged in June, following an upwardly revised 0.3% rise in the previous month and below forecasts of a 0.2% increase.
Stocks
- U.S. equities were in positive territory. Technology and Utilities were the top performers, while Energy and Healthcare lagged. Growth stocks outperformed value stocks, and large-cap stocks outperformed small-cap stocks.
- International equities closed lower for the week. Emerging markets fared better than developed markets.
Bonds
- The 10-year Treasury bond yield increased one basis point to 4.43% during the week.
- Global bond markets were in positive territory this week.
- High-yield bonds led for the week, followed by corporate bonds and government bonds.
