Total ETF assets have been growing at a “fairly consistent” annual rate of 25% from $770 billion 10 years ago, Bank of America said.
The market could hit $5.3 trillion by the end of 2020 at this rate, and a whopping $50 trillion by 2030, the bank predicted.
Since the inception of the first ETF — the S&P 500 SPDR — in 1993, the U.S. market has grown rapidly to a $4.3 trillion juggernaut.
The average rate on the 30-year fixed is now 20 basis points higher than it was on Monday and 36 basis points higher than its last low on Sept. 4, according to Mortgage News Daily. That is the biggest short-term jump since the week following the election of President Donald Trump.
When rates dipped to their recent low, the number of borrowers with good credit scores and at least 20% equity in their homes who could save on a refinance surged to the largest on record, 11.7 million, according to Black Knight. That has now dropped by about 2 million.
“The big risk here is that the overall rate rally — the one that began in November 2018 -- has run its course,” said Matthew Graham, chief operating officer at Mortgage News Daily.
U.K. Prime Minister Boris Johnson’s office has confirmed the British Parliament will be suspended for the next five weeks starting Monday, after Johnson visited his counterpart in Dublin to discuss solutions to a problem that bedevilled his predecessor Theresa May: how to reconcile an open border between Ireland and the UK, while allowing Britain to strike independent trade deals in the future.
Read MoreTotal potential debt for the U.S. by one all-encompassing measure is running close to 2,000% of GDP, according to an analysis that suggests danger but also cautions against reading too much into the level.
AB Bernstein came up with the calculation — 1,832%, to be exact — by including not only traditional levels of public debt like bonds but also financial debt and all its complexities as well as future obligations for so-called entitlement programs like Social Security, Medicare and public pensions.
Read MoreEven if you don’t fly in first class or summer in the Hamptons, this simple equation is an important tool that says a lot about your financial health. Still, most people don’t bother to calculate it. That’s a mistake.
“It’s the first snapshot into an overall look at your finances,” said Michael LaRiviere, a certified financial planner at Essex Financial in Connecticut.
Subtract what you owe from what you own to determine your net worth.
That will give you a good picture of your financial health.
If your net worth is in the red, don’t panic.
Read MoreDalio now heads Bridgewater Associates, the world’s largest hedge fund with roughly $160 billion in assets. But when he was only 12 years old in the early 1960s, Dalio just wanted somewhere to invest the money he’d earned caddying on a golf course and everyone he knew was talking up the stock market.
Read MoreSensing a threat they can’t ignore, Wall Street banks instead partner with tech giants like Apple
“I wake up every morning paranoid about who’s trying to wipe us out. But I think they’re threats we can handle.”
Brian Moynihan
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