Good Monday AM from your Hometown Lender,

Bonds and Stocks holding their own today after last week’s improvement.

Traders are hanging on to Friday’s employment data hoping that it is the first in a string of economic reports showing moderation. We will have to wait another week for that answer as there is almost no data coming out this week. We have a lot of Fed speak but not much data. The Fed speak will be interesting. I think the weak jobs report will have caused them to at least temper their commentary on higher for longer, but we will see. With the 10yr note yield improving, it is likely ok to float.

Not much else to share so I thought I would include a piece on adult kids moving back in with their parents.

My experience is this is a revolving door both physically for the kids and speaking from experience, emotionally for the parents.

Thrivent’s 2024 Boomerang Kids Survey revealed that nearly half of the parents polled (46%) have had their adult children “boomerang” back home to live with them at some point. Some 50% blame the rising expense of rent and housing. This increase represents a significant increase from the 35% who answered the same last year.

Other data that demonstrates the spectrum of implications, from delaying milestones to risking their financial destiny include:

• Drowning in debt: Many young adults are delaying financial priorities because of student loan debt, like buying a home (39%), saving for retirement (34%) or building emergency savings (36%). Additionally, 28% of young adults with student loans say they’re currently living paycheck to paycheck, and only 22% say their first job helped them pay down their debt.
• Parents feel the pinch: With adult children living at home, parents deprioritize their own financial needs. For example, 38% say they are struggling to pay off debt (up from 23% from last year) and 37% find it harder to save for long-term goals like retirement or housing, a considerable jump from 16% last year.
• Not making the grade: Among parents who have an adult child currently living with them, more than half don’t feel confident their child is ready to be financially independent: 55% would give their kid a C grade or lower on financial readiness and 11% would give an F.

Stay safe, make today great!