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- The U.S. defense budget has grown by approximately 20% over the past five years. The recent conflict in Israel may lead to even larger increases. This has sent the stocks of the four largest defense contractors (tickers: LMT, NOC, GD, LHX) up an average of 12% since the Hamas attacks. 1
- US office vacancy rates reached a 20+ year high of 13.3% this year, with San Francisco and Chicago having the highest rates at 20.1% and 16.3%. Miami saw a decrease to 8.8%, the lowest since the second quarter of 2020. 2
- This year’s stock market recovery has not benefited as many stocks as past recoveries have. Only two-thirds of stocks in the S&P 500 rose in value over the past 12 months, compared to 88%-97% of stocks in the past four bull markets. *3
- About 80% of 65-year-olds will require some form of long-term care in their lifetime. The most recent Genworth Cost of Care Survey shows the median cost of an in-home aide is around $5,100/month compared to $4,500/month for assisted living. The median cost of one year in a nursing home is around $100K. 4
- Barrons - "Defense Stocks Rise After Biden Asks Congress for Aid to Israel, Ukraine"
- MFS - "Beyond the News"
- WSJ- "There’s a Reason This Bull Market Feels So Weird"
- Barrons - "Most Seniors Will Need Long-Term Care. Here’s How to Save for It."
*Past performance is not indicative of future performance
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This desk commentary is for informational purposes only
Glen Eagle Wealth, LLC
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