Today's topics include soaking up Treasury issuance, it's all about liquidity, the odds of recession, persistent inflation, tech stocks, the cost of living, and the FDIC accidently spilled the beans on SVB depositors
A look at outstanding amounts of Treasuries, corporates, agencies, munis and open market paper
The amount of outstanding private credit in the U.S. experienced a brief decline during the financial crisis, but government debt grew throughout the entire period. Both are now at new highs.
Private pension funds have much smaller funding gaps than their government counterparts.
Defined benefit plans continue to be replaced by IRAs and defined contribution plans.
Over the past couple quarters, households' real estate equity actually and direct stock ownership converged to similar levels.
Personal consumption continues to make up a larger portion of U.S. GDP as time progresses.
Roughly 41% of FDIC deposits in the U.S. are uninsured.
U.S. equity net issuance shrunk by $517 billion in the first quarter.
A long-term look at the S&P 500's real total return
Some interesting charts from our recent posts