Hello, YieldAlley readers! In this issue:
How to Delay Social Security Without Stock Market Risk
Ceasefire Hopes Drive Broad Rally as Inflation Accelerates and Consumer Sentiment Sinks
The Global Stock Selloff as Oil Fears Rise
Get Up to $1.41 Off Per Gallon
And more!
NEWS
Standout Stories
🏝️ The Best Countries to Retire In: A Data-Driven Reality Check (Italian Leather Sofa)
🏦 Long-Term Money (Morgan Housel)
🤩 The Investment Excitement Ratio (Behind the Balance Sheet)
📚 People Are Paying $1,000 to Read Among Strangers (Bloomberg)
🧠 What to Know About Including Annuities in Your 401(k) (WSJ)
MARKET THOUGHTS
Ceasefire Hopes Drive Broad Rally as Inflation Accelerates and Consumer Sentiment Sinks
ECONOMY
Headline CPI rose 3.3% year over year in March, accelerating sharply from February's 2.4% increase and reaching its fastest pace since May 2024. Nearly three-quarters of the overall increase was driven by a sharp rise in gasoline prices, while core CPI (excluding food and energy) edged up more modestly to 2.6% from 2.5%. The Fed's preferred inflation gauge, core PCE, came in at 3.0% year over year in February, easing slightly from 3.1% in January, though this data predates potential impacts from recent geopolitical developments. The Bureau of Economic Analysis also revised its fourth quarter 2025 real GDP growth estimate down to 0.5% annualized from 0.7%, primarily reflecting lower levels of investment. The ISM Services PMI slipped 2.1 points to 54.0 in March, remaining in expansion territory for the 21st consecutive month but coming in below the consensus estimate of approximately 55. A preliminary University of Michigan consumer sentiment reading for April fell 5.7 points to 47.6, with year-ahead inflation expectations jumping a full percentage point to 4.8%, the highest in recent months.
STOCKS
U.S. equities posted strong gains for the second consecutive week, with all major indexes advancing more than 3% as investor sentiment improved on reports of a two-week ceasefire framework in the
Middle East and a sharp drop in oil prices. The Nasdaq Composite led gains with a weekly advance of 4.68%, closing at 22,902.90 (down 1.46% year to date). The S&P 500 rose 234.20 points to close at
6,816.89 (down 0.42% year to date), while the Dow Jones Industrial Average gained 1,411.90 points to close at 47,916.57 (down 0.31% year to date). Smaller-cap indexes outperformed on a year-to-date
basis, with the S&P MidCap 400 closing at 3,522.63 (up 6.58% year to date) and the Russell 2000 at 2,630.59 (up 5.99% year to date). Within the S&P 500, energy was the only sector to post negative
returns for the week as oil prices reversed sharply, while consumer discretionary, communication services, and information technology led gains. Large-cap technology and semiconductor stocks also
benefited from continued optimism around AI infrastructure spending and new model launches.
FIXED INCOME
U.S. Treasuries generated positive returns for the week, benefiting from the broader risk environment and declining energy prices following the ceasefire reports. The sharp drop in oil prices on Wednesday, the steepest single-day decline since 2020, eased near-term inflation concerns and supported demand for fixed income. However, the acceleration in headline CPI to 3.3% and the jump in consumer inflation expectations to 4.8% for the year ahead create a more complex backdrop for the rate outlook. Services sector price pressures remain elevated, with the ISM Services prices index reaching its highest level since October 2022, a dynamic that could complicate the path toward any near-term Fed easing.
INCOME BUILDING TIP
How to Delay Social Security Without Stock Market Risk
If you're planning to delay Social Security until 70 to maximize your lifetime benefit but retire before then, you have a funding problem. Those missing years of income have to come from somewhere. Most people default to drawing more from their investment portfolio, which sounds simple but creates a real risk. Taking larger withdrawals from a portfolio that might also be declining in value is exactly how sequence-of-returns risk derails a retirement plan.
The solution is called a Social Security delay bridge, and with today's rates it's more practical than it's been in years. The idea is to carve out a TIPS ladder -- a series of Treasury Inflation-Protected Securities sized to cover your expected Social Security benefit for each year from retirement until age 70. Because TIPS pay a real (inflation-adjusted) return and are backed by the U.S. Treasury, this slice of your income is fully insulated from stock market volatility. You're not gambling on whether markets cooperate during those critical early years.
Here's why the current rate environment matters: the 30-year TIPS real yield is currently around 2.4%, supporting an inflation-adjusted withdrawal rate of roughly 4.6% from a bond ladder alone. A few years ago, that same yield was near zero (briefly negative), making bond-based income floors almost impossible to build cost-effectively. In practical terms, funding an 8-year income bridge is meaningfully less expensive today than it was in 2020 or 2021. Meanwhile, delaying Social Security from 62 to 70 increases your inflation-adjusted lifetime benefit by about 77%. That's a powerful combination: a protected bridge today, and a much larger guaranteed income stream for the rest of your life.
You can build a TIPS ladder directly through TreasuryDirect with no commissions. Other bridge options include a period-certain annuity (pays for a set number of years only), part-time work, or a reverse mortgage line of credit if you have significant home equity. The core principle is the same regardless of which bridge you choose: don't leave that income gap exposed to market swings. The delay credits from Social Security are too valuable to risk by withdrawing aggressively from equities in a downturn.
INCOME BUILDING
Cash Rates
Government Money Market Funds (7-Day Yields)
SNVXX (Schwab Government Money Fund - Investor Shares): 3.36%
SPAXX (Fidelity Government Money Market Fund): 3.27%
TTTXX (BlackRock Liquidity Funds: Treasury Trust - Institutional Class): 3.54%
VMFXX (Federal Money Market Fund): 3.56%
Brokered CD Rates (6-Month Rate)
Charles Schwab: 3.89%
E*Trade: —
Fidelity: 3.90%
Merrill Edge and Merrill Lynch: —
Vanguard: 3.90%
ETFs (30-Day Yields)
SGOV (iShares 0-3 Month Treasury Bond ETF): 3.55%
BIL (SPDR Bloomberg 1-3 Month T-Bill ETF): 3.50%
USFR (WisdomTree Floating Rate Treasury Fund): 3.60%
TFLO (iShares Treasury Floating Rate Bond ETF): 3.60%
DEALS AND BONUSES
Stack These 7-Eleven Codes for Up to $1.41 Off Per Gallon
7REWARDS members can stack five promo codes at 7-Eleven for up to $1.41 off per gallon on gas. The program is free to join, and the codes are sent via text to activate savings at the pump. With gas prices still elevated in most markets, this is one of the easier fuel discounts to grab.
Offer Details
Main promotion: Up to $1.41/gallon off gas for 7REWARDS members
Promo codes: Text each code individually to 711711 (all stackable)
SAVE - $0.30 off/gal
FUEL - $0.40 off/gal
FUEL30 - $0.30 off/gal
DEAL - $0.30 off/gal
STARSWIN - $0.11 off/gal
Valid dates: No expiration listed (community-reported as active)
Eligibility: Free 7REWARDS membership required
Redemption: Via 7-Eleven app (Fuel Now / Pay for Fuel) or enter your verified phone number at the pump
Our Thoughts
Stacking all five codes gets you $1.41 off per gallon, which is substantial when filling a 15-gallon tank (roughly $21 back). 7REWARDS is free to join, so there's no cost to participate. This type of stackable fuel deal doesn't come up often, and with no credit card requirement, almost anyone can use it. Check current expiration status before heading to the pump since community-reported deals can expire without notice.
Picture of the Week
