Here's why renters aren't buying
Americans aren't buying despite higher rents (Bankrate)
Climbing rents aren't encouraging Americans to buy houses. According to a survey conducted by Bankrate, 35% of Americans don't want to buy a home as the pain from the Great Recession lingers. Additionally, 29% say they can't afford a down payment and 16% believe their credit isn't good enough to qualify for a mortgage. Marietta Rodriguez, vice president of national home ownership programs at NeighborWorks America, told Bankrate, people might qualify for a mortgage and not know it. "A lot of people make assumptions that they can't afford to buy based on just some perceptions, and many have not taken the step to figure out how mortgage-ready they are."
Distillates are at worrying levels (Business Insider)
A report from Barclays found the demand for distillates, a type of refined oil product, is flashing a warning sign for the US economy. January demand fell by 18% versus a year ago, a level of decline that has previously been seen only during recessions. Barclays says the warm winter weather could help explain the drop, and the data could still be revised higher. But it's something to keep an eye on.
The "Year of the Monkey" is usually good for stocks (Wealth Management)
The S&P 500 has had a rough start to 2016, falling about 9% so far. However, if history is any indication, the Lunar New Year could turn things around. That's because the S&P 500 has gained in each of the last six "Year of the Monkey," averaging a gain of 7.8%, according to S&P Capital IQ's Sam Stovall.
Bill Gross' fund had another outflow in January (Bloomberg)
Bill Gross' Janus Global Unconstrained Bond Fund saw investors pull $14.8 million in January. Bloomberg estimates, the January withdrawals marked the third consecutive monthly outflow. As of February 5, the fund is up 0.28% year-to-date, ranking it among the top 8% of its peers, according to Morningstar data.
Investors are worried about market volatility (Eaton Vance)
Eaton Vance's Q1 2016 Advisor Top-of-Mind Index Survey found market volatility is what keeps investors up at night. The survey found 80% of advisors report clients say fear is their number one motivator, up from 51% a year ago. John Moninger, managing director at Eaton Vance, says it's important investors don't lose sight of their long-term goals. "It's critical for financial advisors to work with clients to understand their life goals and then develop and follow an investment plan together."