From Joe
Limited Time Discount: Get First Month for only $1
Until midnight on October 31st, you can use discount code SPOOKY to get your first month of Heresy Financial University for only $1.
Heresy Financial University gives you unlimited access to the entire training library of courses, teaching active investors portfolio allocation, advanced options strategies, stock analysis, and much more.
And if you sign up with discount code SPOOKY before October 31, you will also join in time to be a part of the new monthly livestreams for members only. These livestreams are group coaching calls to go over course questions, markets, economics, strategy implementation, and much more.
Last time I ran these discounts, they sold out (the first one sold out in 90 minutes) so you don't want to wait. The code will stop working at Midnight on Tuesday.
Oh, and the best part is, your member pricing gets locked in forever. Next year, I'll be adding a few new features and benefits for all members, which you'll get automatically as a member. But it also means the price will be going up for new members. So get in now and lock all the member benefits at today's price.
News
US House Republicans eye stopgap funding measure to head off shutdown risk
Republicans in the U.S. House of Representatives on Thursday were debating their next move on how to avert a partial government shutdown next month, with one prominent lawmaker saying they needed to agree quickly on a "path forward." Newly installed Speaker Mike Johnson was floating the possibility of extending funding through mid-January or mid-April to give lawmakers more time to negotiate 12 separate bills funding the government through the fiscal year that ends Sept. 30, 2024.
U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected
The U.S. economy grew even faster than expected in the third quarter, buoyed by a strong consumer in spite of higher interest rates, ongoing inflation pressures, and a variety of other domestic and global headwinds. Gross domestic product, a measure of all goods and services produced in the U.S., rose at a seasonally adjusted 4.9% annualized pace in the July-through-September period, up from an unrevised 2.1% pace in the second quarter, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had been looking for a 4.7% acceleration in real GDP, which also is adjusted for inflation.
Yellen Says Yield Surge Is Due to Strong Economy, Not Deficits
Treasury Secretary Janet Yellen said the surge in longer-term bond yields in recent months is a reflection of a strong US economy, not the jump in government borrowing driven by a widening fiscal deficit. “I don’t think much of that is connected” to the US budget deficit, Yellen said at an event in Bloomberg’s Washington office Thursday. “We’re seeing yields go up in most advanced countries.” The increase in yields — which has taken benchmark Treasury rates to the highest levels since before the global financial crisis — is instead “largely a reflection of the resilience people are seeing in the economy,” she said.
Junk Bond Investors Are Ignoring Warning Signs from US Bankruptcy Courts
Yield-hungry investors are seemingly refusing to see rising risks that threaten to spill over from US bankruptcy courts. Federal Reserve interest-rate hikes beginning last year have sent the cost of money shooting higher, and companies in 2023 have been buckling at the second-fastest rate since the financial crisis. Despite that, the average risk premium for US high-yield debt has remained muted — averaging 420 basis points this year — suggesting investors don’t find junk-rated companies all that risky.