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Debt bomb, biotech bump and a bond rally: 2023 money predictions

Friday, January 13, 2023
Debt bomb, biotech bump and a bond rally: 2023 money predictions © Reuters. FILE PHOTO: U.S. One dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
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By Chris Taylor

NEW YORK (Reuters) - If there was only one word to sum up 2022, "unpredictable" might be the most accurate.

Yet we all enjoy trying to predict the future, especially when it comes to our finances – to protect ourselves from the downside, or to take advantage of the upside.

What does 2023 hold for investors? We talked to some leading lights in the financial world about the road ahead.

Prediction: Debt bomb

Sarah Newcomb, director of financial psychology at Morningstar

“I’m concerned about the lack of saving in America as a whole. Inflation may be slowing, but data from the Federal Reserve shows consumer borrowing has been steadily rising. It seems we’re funding our more expensive lifestyles with debt.

“That can only last so long, and with rising interest rates, it concerns me. We had a moment of higher savings rates when the pandemic first hit, and people realized they needed to be prepared for anything. Once the shock wore off, spending and borrowing picked back up, and I fear we didn’t learn our lesson. I am concerned about increased bankruptcy rates, loan defaults and overall financial stress in 2023.”

Prediction: Boring wins

Carrie Schwab-Pomerantz, president of Charles Schwab (NYSE:SCHW) Foundation and managing director of Charles Schwab & Co.

“I predict that in 2023, timeless money principles will win out and more people will decide that ‘boring is best’ when it comes to managing their finances. Tried-and-true principles that have helped people build wealth for generations will be the hottest trend in finance: investing for the long term; building a portfolio grounded in asset allocation and diversification; establishing an emergency fund; limiting debt; and maxing out your 401(k).

“Of course, trendy investment ideas will pop up as they always do, but it’s important to remember there is no get-rich-quick solution. Getting back to the basics will foster strong financial foundations as we face economic headwinds in the new year.”

Prediction: Bonds are back

Kristy Akullian, iShares senior investment strategist at BlackRock (NYSE:BLK)

“Bonds will be back in 2023 in a way we haven’t seen in decades. In an otherwise challenging investment landscape for the year ahead, we see tremendous value in high-quality fixed-income and believe others will as well.

“No longer just the remit of retirees, attractive yields will attract a new cohort of buyers to the asset class: Newer investors looking for less volatility, Millennials with near and medium-term investment objectives and multi-asset managers who see opportunity to outperform. Already, ETF flows are starting to show a shift in investor preferences – watch for much more of this in the year ahead.”

Prediction: "Unstoppable trends" will ride out recession

Jim O’Donnell, CEO of Citi Global Wealth

“We’re focused on what we call ‘unstoppable trends’ like healthcare – especially in areas like biologics, life science tools and age tech – that are likely to give investors access to companies with long-term growth prospects. Aging and growing populations are likely to boost spending on healthcare innovations.

“This growth, paired with the fact that the healthcare industry is least tied to current economic conditions, makes this a potentially attractive sector for suitable investor portfolios.”

Prediction: Headwinds for small business

Asahi Pompey, Global Head of Corporate Engagement, Goldman Sachs (NYSE:GS); President of the Goldman Sachs Foundation

“For small business owners, the financial success of their businesses will become even more deeply intertwined with their personal financial situations as the economic climate remains uncertain. The optimism of these entrepreneurs for continued growth in the new year points to resilience amid some tough financial decisions they’ll likely make in 2023.

“For instance, we expect to see a rise in debt consolidation as business owners look to combat the rate environment. And while entrepreneurs will continue to invest in their businesses, growing their personal savings will be increasingly important to buffer against continued inflationary pressures.” 

Prediction: Consumers hunkering down

Chris Britt, Co-founder and CEO at Chime

“My prediction would be that American consumers in 2023 are going to hunker down and focus on building more solid foundations for their financial future. The data is clear that people’s confidence is at extremely low levels right now, not seen since the early days of pandemic.

“Since millions of consumers use us as their primary account, we can actually see where money is going. We are seeing far less movement into more volatile investments, like crypto transactions, and more movement into safer investments like high-yield savings. That signals to us that people are preparing for what could be a very challenging 2023.”

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08-02-2023 01:54:21 (UTC+7)

EUR/USD

1.0697

-0.0033 (-0.31%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

EUR/USD

1.0697

-0.0033 (-0.31%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

GBP/USD

1.2001

-0.0015 (-0.13%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (3)

USD/JPY

131.34

-1.32 (-0.99%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

AUD/USD

0.6912

+0.0031 (+0.45%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (4)

USD/CAD

1.3450

+0.0004 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (5)

EUR/JPY

140.51

-1.83 (-1.28%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

EUR/CHF

0.9885

-0.0075 (-0.75%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Gold Futures

1,880.85

+1.35 (+0.07%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (4)

Sell (4)

Silver Futures

22.117

-0.120 (-0.54%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (5)

Copper Futures

4.0393

+0.0043 (+0.11%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (3)

Sell (5)

Crude Oil WTI Futures

76.69

+2.58 (+3.48%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

Brent Oil Futures

83.36

+2.37 (+2.93%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

Natural Gas Futures

2.556

+0.099 (+4.03%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (0)

US Coffee C Futures

177.10

+1.40 (+0.80%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (4)

Euro Stoxx 50

4,209.31

+3.86 (+0.09%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

S&P 500

4,095.80

-15.28 (-0.37%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (9)

DAX

15,320.88

-25.03 (-0.16%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,864.71

+28.00 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Hang Seng

21,298.70

+76.54 (+0.36%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

US Small Cap 2000

1,937.00

-17.80 (-0.91%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (9)

IBEX 35

9,172.40

+13.20 (+0.14%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

BASF SE NA O.N.

52.950

0.000 (0.00%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (8)

Bayer AG NA

58.95

+0.76 (+1.31%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (6)

Allianz SE VNA O.N.

219.40

+0.10 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Adidas AG

153.08

-2.28 (-1.47%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (0)

Sell (8)

Deutsche Lufthansa AG

9.653

-0.150 (-1.53%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Siemens AG Class N

140.86

-2.10 (-1.47%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (2)

Deutsche Bank AG

11.530

+0.174 (+1.53%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (2)

    EUR/USD 1.0697 Sell  
    GBP/USD 1.2001 Neutral  
    USD/JPY 131.34 ↑ Buy  
    AUD/USD 0.6912 Sell  
    USD/CAD 1.3450 Neutral  
    EUR/JPY 140.51 ↑ Buy  
    EUR/CHF 0.9885 ↑ Sell  
    Gold 1,880.85 Neutral  
    Silver 22.117 Sell  
    Copper 4.0393 Sell  
    Crude Oil WTI 76.69 ↑ Buy  
    Brent Oil 83.36 ↑ Buy  
    Natural Gas 2.556 ↑ Buy  
    US Coffee C 177.10 Neutral  
    Euro Stoxx 50 4,209.31 ↑ Buy  
    S&P 500 4,095.80 ↑ Sell  
    DAX 15,320.88 ↑ Buy  
    FTSE 100 7,864.71 ↑ Buy  
    Hang Seng 21,298.70 ↑ Sell  
    Small Cap 2000 1,937.00 ↑ Sell  
    IBEX 35 9,172.40 ↑ Buy  
    BASF 52.950 Neutral  
    Bayer 58.95 ↑ Sell  
    Allianz 219.40 ↑ Buy  
    Adidas 153.08 Neutral  
    Lufthansa 9.653 ↑ Buy  
    Siemens AG 140.86 Buy  
    Deutsche Bank AG 11.530 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,650/ 6,710
(0/ 0) # 1,344
SJC HCM6,655/ 6,735
(0/ 0) # 1,371
SJC Hanoi6,655/ 6,737
(0/ 0) # 1,373
SJC Danang6,655/ 6,737
(0/ 0) # 1,373
SJC Nhatrang6,655/ 6,737
(0/ 0) # 1,373
SJC Cantho6,655/ 6,737
(0/ 0) # 1,373
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RON 95-V24.00024.480
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Ngoại tệMua vàoBán ra
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GBP27.653,4728.844,48
JPY174,04184,33
KRW16,1919,73
Cập nhật lúc 18:50:03 07/02/2023
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