Well, that’s a wrap for 2024!
Looking back over the last quarter of the year and the complete year for that matter, what an interesting journey it was.
After concerns from the prior two years on the effects of one of the fastest interest rate increases ever, the federal reserve embarked on interest rate decreases. Starting at a short term Fed funds rate of 5.5% with a .50% decrease in late August and completing the final moves (so far) in November, to a level of 4.5%. An interesting but not surprising effect occurred after the short term decreases.
From our early September 9, 2024 http://www.Street-cents.com post:
“Pro- Tip Reminder: Lowering short term rates does NOT necessarily mean longer term rates will come down immediately… think 30 year mortgage rates!”
We noted that it would not be surprising for the Fed to start lowering rates and cause an increase in interest rates as the bond guys, also known as the smartest guy in the room, sniffed out possible economic, inflationary items and begin pricing those in with higher interest rates
With capital market participants, expecting up to 2% rate decreases at the beginning of 2024 most of those, if not all are now not expected.
Did we mention an election?
The once every four-year vote for chief government official went off without a hitch, completing the process of polling, election and eventual participation of elected official.
As has become the norm, with an elected official change, many new items may be in the cards in the form of laws and changes which are at this time holding our Newsletter hostage for print.
Markets
While some of the capital market indexes once again had a very good year, for the most part it was a very calm and normal year, especially with interest rates moving up at the end of the year.
While there are no major storms foreseen in the economy, capital markets are at all-time stretched valuations. Liken this to driving a car as fast as it would possibly, which then lends itself to abrupt movement in the event of some loss of control or distraction. A good time to keep all expectations in check.
This is also the time we attach our Private Policy Statement for the year, along with our opportunity to offer our latest ADV filings and Client Relationship Summary (Form CRS); Requests for review will be accepted via phone, mail or email, and mailed immediately upon request.
Have a great start to the new year and look forward to talking to you near the early part of spring!
John A. Kvale CFA, CFP
J.K. Financial, Inc.
PRIVACY POLICY NOTICE
Our Promise to You
As a client of J.K. Financial, Inc., you share both personal and financial information with us. Your privacy is important to us, and we are dedicated to safeguarding your personal and financial information.
Information Provided by Clients
In the normal course of doing business, we typically obtain the following non-public personal information about our clients:
- Personal information regarding our clients’ identity such as name, address and social security number;
- Information regarding securities transactions effected by us; and
- Client financial information such as net-worth, assets, income, bank account information and account balances.
How We Manage and Protect Your Personal Information
We do not sell information about current or former clients to third parties, nor is it our practice to disclose such information to third parties unless requested to do so by a client or client representative or, if necessary, in order to process a transaction, service an account or as permitted by law
In order to protect your personal information, we maintain physical, electronic and procedural safeguards to protect your personal information. Our Privacy Policy restricts the use of client information and requires that it be held in strict confidence.
Client Notifications
We are required by law to annually provide a notice describing our privacy policy. In addition, we will inform you promptly if there are changes to our policy.
Please do not hesitate to contact us with questions about this notice.
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
