Today's topics include New York City dwellers drowning in rent, what does volatility look like in this stock market?, the new cost of travel, why is college so expensive? Just look how much they spend, 20-year auctions, European natural gas, China's deflation problem, equities vs. bonds, banning certain Chinese investments, and stablecoins & the dollar
The pandemic started the end of cheap labor, goods, and energy. Technological advances and globalization have driven these three macroeconomic factors. With peak globalization behind us and changing attitudes of workers, technological advances will unlikely offset rising costs.
The yield curve is steepening in response to increasing inflation fears and a Fed that might be done tightening. This leads to long rates rising faster than short rates and tightening financial conditions.
Today's topics include previewing tomorrow's inflation release, long-run inflation expectations on the rise, comparing mortgage rates to savings rates, productivity's relationship with inflation, deflation in China, China playing accounting games?, bank loan losses on the rise, and Fed reinforces stablecoin regulation
Today's topics include a rolling recession, base effects & where inflation is heading, negative shelter inflation?, trillion dollar multifamily mortgage pile, long maturity treasury issuances, gas prices creep back up, high heat strains southern power grid, food costs in the UK, who wants to be short?, and PayPal launches a stablecoin
😂🤣 pic.twitter.com/dyLekZWlcK — Barchart (@Barchart) August 6, 2023
Q2 2023 earnings reports have started to come in. S&P 500 operating earnings are expected to decline in 2023, with a rebound later in the year and into 2024.
Today's topics include an eye on CPI this Thursday, a bear steepener, detailing the bond market's volatility, hedge funds short bonds, bank emergency funding, the odds of a recession, breaking down job growth by days in office, and more on Fitch's downgrade of the U.S.
This morning's payrolls report missed expectations. Wages may have stabilized, but they continue to fall short of inflation. Traders don't see today's data as changing the Fed's math.