Today's topics include behind the scenes of First Republic's lifeline, ain't high finance grand?, zooming out on the US banking industry, the OECD cautions against pausing rate hikes, a closer look at egg-flation, private credit, and triple witching
My Bank just closed. The Fed needs to step in ASAP pic.twitter.com/ISfii6P5Xo — High Yield Harry (@HighyieldHarry) March 13, 2023
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 surpassed stock ownership.
Personal consumption continues to make up a larger portion of U.S. GDP as time progresses.
Roughly 45% of FDIC deposits in the U.S. are uninsured.
U.S. equity net issuance shrunk by $210 billion in the fourth quarter.
A long-term look at inflation-adjusted gold
Some interesting charts from our recent posts