Today's topics include investors party like it's 2021, Americans keep spending for now, look for consumption changes, Euro Area inflation is starting to feel sticky, moving out on the curve, housing market tight supply, banks balance margins & keeping depositors, all eyes on the distressed debt pile in the US, a quiet recession in China?, and big earners are most resistant to going back into the office
Since the beginning of June, the stock market's rally has been broadening beyond Big Tech/AI. The narrative is the debt ceiling deal prevented a liquidity crisis, and inflation has finally been tamed. Yet, no other markets are confirming this move.
Today's topics include Jim discusses the base effect on Fox Business, BofA survey indicates revived soft landing hopes, looking for a loan? good luck, El-Erian says inflation about more than just wages, holding long maturity assets, Yellen discusses labor market, forking over interest to depositors, funds hit holdings ceiling for most concentrated stocks, and embracing remote work
Q2 2023 earnings reports have started to come in. S&P 500 operating earnings are expected to decline further in 2023, with a rebound later in the year and into 2024.
Today's topics include peak rates trade comes into focus, what is driving markets higher?, home equity lines of credit becoming more prevalent, checking on the credit cycle, renters are bearing the brunt of inflation pain, wages & inflation, trouble for the Chinese economy, and more pessimism on the dollar
In the last three auctions, dealers bought just 16% of the 10-year notes offered, on average. In contrast, investment funds are now taking down more than half of the average auction.
Public transportation usage closely follows office usage.
In 1974, there was only $400 billion set aside in dedicated retirement vehicles. In the first quarter of 2023, that number had ballooned to $35 trillion. This is double the $17.8 trillion in 2007.
For years, the fear of overpopulation was labeled a global threat. The actual problem seems to be underpopulation.