Today's topics include equity bearishness, profit margin squeeze, El-Erian questions the Fed's 2% inflation target, money supply, this week's FOMC minutes may actually prove interesting, projecting a bounceback for the 60/40 portfolio, office building defaults, how much do you need to retire?, a real-life work-from-home study, and an update on the commitments of traders data
Today's topics include Goldman raises its terminal rate outlook, covering inflation, thinking about real rates, disposable income, BofA sees 'no landing' followed by 'hard landing', another way to look at market breadth, growth vs. value, natural gas prices in Europe, your daily update on 0DTE options, and the SEC sets its sights on another crypto villain.
Household debt in the U.S. rose to $16.90 trillion in the fourth quarter.
Credit utilization remains historically low, but is on the rise.
People under 30 and over 70 hold a relatively small amount of debt compared to other age groups.
The average third party collection totaled $1237 in the fourth quarter, just off the lowest level since Q4 2006.
Household debt broken down by delinquency status
Credit card debt is now 10% higher than it was pre-pandemic.
Mortgage originations slowed markedly for the sixth quarter in a row.
Some interesting charts from our recent posts.