• Understanding Digital Currency
  

Over the last five years, digital currencies, or cryptocurrencies, have burst onto the scene as an alternative to traditional currencies, as well as a potential investment. As we highlighted in a recent edition of The Bullet Points, a $1,000 investment in bitcoin on March 9th, 2020 would have been worth over $7,021 two weeks ago. So what should we think about these cryptocurrencies? Join Barry and Steve in the video below as they talk through McCall & Associates' perspective on digital currencies, now and into the future.

• Blockage In The Suez Canal

  
  

  On Wednesday, Ever Given, a massive container ship, ran aground in the Suez Canal, becoming horizontally wedged in the waterway following heavy winds. According to CNBC, the carrier is more than 1,300 feet long and weighs more than 200,000 tons. For comparison, France's Eiffel Tower is only 1,063 feet tall. The Suez Canal is a key point of global trade, with over 50 ships on average passing through each day. According to Bloomberg, the blockage is halting $9.6 billion a day in traffic and comes while the global supply chain is already struggling to keep up with demand. Officials are recognizing that it could potentially be weeks before the ship is freed. For more perspective, see the map below from Bloomberg highlighting how the blockage is affecting global transit.

• Home Sales Decline

Due to winter storms and declining affordability, existing-home sales declined 6.6% in February, according to First Trust. While winter is a historically slow time for home sales, 30-year fixed rates have climbed .5% over the last month. That, along with the median price of an existing home rising to $313,000 (up 15.8% versus a year ago), contributes to the drag on sales. In addition, inventory remains extremely low. Existing home sales are still up 9.1% versus a year ago.

• Covid-19 Weight Gain

  While the Coronavirus pandemic of 2020 and 2021 has had numerous effects on our way of life, weight gain appears to be a negative unintended consequence. According to a survey conducted by the American Psychological Association that surveyed more than 3,000 American adults, 42 percent of those surveyed had gained more weight than they intended to over the past year, with the average gain being 29 pounds. Millennials reported the largest average weight gain of 41 pounds. While the survey is small, it gives us a peek into how staying at home has negatively affected at least some Americans. For a greater insight into different demographics, please see the chart below.

Any opinions are those of Barry McCall, Steve Alverson, and Austin Coley and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected. This is not a recommendation to purchase or sell the stocks of the companies pictured/mentioned.