As the Q4 2022 reporting season winds down, earnings have been a disappointment. The beat rate is less than expected and the reporting "bounce" is among the smallest ever seen.
Today's topics include Powell speaks tomorrow & Wednesday, stocks as an inflation hedge, credit spreads diverging from tighter lending conditions, foreign holdings of U.S. Treasuries, energy's new normal, manufacturing feeling squeeze of higher rates?, and Bloomberg's pulse survey
Today's topics include Fed officials talk terminal rate, stocks vs. central bank balance sheets, the increasing cost of carrying debt, housing affordability, the BoJ's options for scrapping yield curve control, cash is king, and two banks at all-time lows.
In the fourth quarter of 2022, retail traders accounted for more equity volume than quant funds, HFTs, and banks.
Federal debt held by the public is on pace to surpass 100% of GDP by the end of 2024. Much of this is due to rising carrying costs.
The U.S. government hit the debt ceiling on January 19, 2023. The Treasury enacted "extraordinary measures" to keep the government funded. While political theater amplifies fears around the debt ceiling, it is very unlikely Congress will allow the U.S. to default on its debt.
Redfin's alternative measures of the housing market continue to show a slowdown in the crazy conditions of the last year.
As problems mounted at FTX, much of ETH's supply found its way off centralized exchanges in favor of self-custody. This trend kicked into gear once again as Kraken was forced to shutter their staking service.
The average age of the Senate is the oldest in history. The average age of a member of the House has ticked down from its record in recent years. Democrats are now older than Republicans.
A long-term look at electricity generation