In theory, savers could have earned $42 billion more in interest in the third quarter if they moved their money out of the five largest U.S. banks by deposits to the five highest-yield savings accounts—none of which are offered by the big banks.
Federal Reserve officials have raised rates this year at the fastest pace since the early 1980s.
U.S. life insurers paid a record $100 billion in 2021 in death benefits, an 11% increase. The increase was on the heels of a 15% year-over-year rise in 2020, when death-benefit payments totaled $90.43 billion.
Investors have poured more than $86 billion into U.S. equity mutual and exchange-traded funds in 2022. That is on track to mark the second-highest sum since 2013, following last year’s inflows of $156 billion.
The population of the planet is set to hit 8 billion Tuesday, according to projections from the United Nations that forecast the number will grow to 8.5 billion by 2030 as life expectancy rises.
For the U.S. lender’s KBW Bank Index, the combined balance-sheet value of held-to-maturity bonds was $2.21 trillion as of Sept. 30. The market value was $1.91 trillion, or 14% less.
Nationwide, the median sales price of an existing single-family home last quarter was up 8.6% from a year earlier to $398,500, according to NAR, a slowdown from the second quarter’s 14.2% pace.
Derivatives markets show that traders believe the consumer-price index will rise by about 3.3% over the next 12 months. At the end of September, expectations were for 2.3% inflation.
