Welcome to our #210 weekly newsletter.
“For women taking control of their financial future”
-Jana Hlistova
From The Purse
In this week’s newsletter, we focus on a recent study by Fidelity Investments (US) which shows that women are leaning into their money and investing more than ever before.
Fidelity added 48% more new women customers in 2023 compared to 2019.
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And you can review the news in brief so you stay on top of global financial, economic and investing trends.
I hope you enjoy this week’s newsletter.
Until next week,
Jana
Fidelity study: women are investing more than ever before
A new study by Fidelity Investments shows that women are leaning into their money.
Recent research from Fidelity Investments (US) suggests that women are engaging much more with their money and starting to invest more too.
Fidelity added 48% more new women customers in 2023 compared to 2019. And the good news is that today, an average of 60% of women invest in the stock market.
This is how it breaks down across each generation (ie women who invest):
71% of Gen Z
63% of millennial
55% of Gen X
57% of Baby boomers.
Moreover, women are modelling healthy money behaviours: 51% of women who invest in the stock market stay the course. And 68% of women are saving for retirement in 2023, compared to 66% in 2019.
The top 5 financial stressors for women were identified as:
Thinking I should be doing more with my finances than I am (40%)
Saving enough to retire (39%)
Paying off debt (37%)
Tackling the cost of health care in retirement (29%)
Knowing how to invest my savings to reach my financial goals (24%)
We know that women have a different life trajectory to men.
The most common factors which impact a woman’s financial journey are caregiving, extended retirement years and higher health costs, which is why women must plan their financial money journey differently.
What next? (Re) listen to The Purse Podcast:
News in Brief
Financial news
China President Xi signals that a sharp slowdown in growth and lingering deflationary risks won’t be tolerated, making a series of rare policy moves to boost sentiment.
Stocks and bonds suddenly correlate positively w/each other again. Are we back in the 1980s/1990s, and what does that mean for the 60/40 portfolio?
S&P 500 tumbles 10%+ from July 31 closing high. Now down 14.2% down from Jan 2022 ATH.
Nasdaq 100 dropped 1.9%, now down 11% from Jul high, so Big Tech now in correction territory.
Gold topped $2,000 an ounce for the first time since May amidst market chaos and as Israel-Hamas clash raises haven allure. KBW bank index sinks past SVB crisis.
ECB leaves rates on hold, key rate at 4.5%, depo at 4%, pausing cycle of hikes for first time since start of hiking cycle.
ECB's Christine Lagarde: Rate cuts weren't discussed, would be totally premature. Markets see the first ECB cut at April 2024 meeting.
Amazon profits nearly triple as company reports $143.1bn in revenue. Retailer predicts robust margins for rest of year despite rise in interest rates and people returning to bricks-and-mortar stores.
Crypto: bitcoin, ethereum, DeFi & NFTs
Spot crypto trading volumes surge to levels not seen since March.
Bitcoin gained over 14% in a week, recently consolidating at around $33,700 after it hit fresh yearly highs at $35,000 but failed to break through that price level.
Arthur Hayes says BTC is rallying over US military spending, not ETF hype. BitMEX co-founder says investors are offloading bonds for gold and crypto.
Ethereum's price is stabilising around $1,800, a psychological resistance level for months, amid growing ETF approval buzz.
VanEck predicts a 10,600% Solana price rally by 2030. The report also delves into a potential scenario where Solana becomes the first blockchain to accommodate applications with over 100 million users.
Polygon deploys POL token on Ethereum. New POL token will facilitate restaking for multi-chain Polygon ecosystem.
Vodafone Partners with Chainlink to demonstrate blockchain’s potential in global trade
No, Hamas isn’t raising millions through crypto. Leading blockchain forensics firms dispel myths surrounding role of crypto in terrorist financing.
Coffee Break? Read This
We’d love to hear from you. Get in touch with Jana via the The Purse website or tweet @jointhepurse and janicka.
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Fidelity study: women are investing more than ever before