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February 5, 2024 Investor Insights Thumbnail

February 5, 2024 Investor Insights

Investor Insights

Japan Back to 1989

February 5, 2024

Enjoy this week's "Investor Insights," a weekly newsletter highlighting the financial news you need and providing tips and tricks to help you make better investment decisions.  

  • Japan's Nikkei stock market ended last week only 8% from its 1989 record high. Back then, the Japanese Imperial Palace grounds were worth more than all the land in Florida, and Nippon Telegraph and Telephone was the world's largest company. Then the stock market crashed by 60%... 1*
  • In 2023, US union membership increased slightly to 14.4 million, constituting 10% of the employed labor force, a decline from 20.1% in 1983. Hawaii and New York have the highest union membership rates at 20%, while the Carolinas have the lowest rate at less than 3%. 2
  • On 1/24/24, the technology sector's S&P 500 weighting surpassed 30% for the first time since 2000, while the utilities sector reached a multi-decade low of 2.17% on the same day. The utilities sector was last at this level in late March 2000 during the peak of the dot-com bubble. 2
  • $8.9 trillion of government debt is set to mature in 2024. Additionally, the budget deficit is projected to be $1.4 trillion, and the Fed is reducing its balance sheet by $60 billion monthly. This means someone will need to buy over 1/3 of the government’s outstanding debt this year. 3

Sources: 

  1. WSJ - "Stocks for the Looong Run: Could Japan’s Lost Decades Happen in America?"
  2. MFS - "Beyond the News"
  3. Apollo - "$10trn in US Treasuries Coming to the Market in 2024"

*Past performance is not indicative of future performance

Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter. 

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