Today's topics include a note of caution from the Fed, the decline in productivity, stock market volatility, the fight against inflation is not over, U.S. stocks vs. foreign stocks, China back to censoring negative stories, and leveraged bitcoin futures ETF launches today
Inflation grew 1.2% in June 2022, one of the highest monthly readings ever. When this gets dropped off the year-over-year calculation with the June 2023 report, inflation bottoms around 3%. Barring any severe economic downturn or price shock, inflation is likely to rise through year-end. The Fed will find this unacceptable.
Today's topics include QE creating balance sheet issues in Germany, survey expects yield curve to remain inverted, the muted effects of central bank hikes, divergent central bank policy, Treasury issuance, gauging stock market sentiment, gasoline demand, trading the open vs. the close, and the latest on work from home
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.