The Fed finally admitted what has been evident for decades. Their theory to unify the dual mandate of high employment and low inflation no longer works.... Read More
While many in the U.S. hope the trade war could soon be resolved, the Chinese appear to be digging in for a longer confrontation. Expect the meeting this weekend to yield more talking. Risk markets will look at this bullishly.... Read More
There is a perception that real growth drives U.S. interest rates. Lately, U.S. yields have correlated more directly to world growth rather than U.S. growth.... Read More
Previously we compared GDP growth during different expansions on a nominal basis. How does each expansion compare on a real GDP and per capita real GDP basis?... Read More
A look at outstanding amounts of Treasuries, corporates, agencies, munis and open market paper.... Read More
A home may be the biggest purchase most people make in their lives, but households' stock ownership has actually surpassed home equity since the housing crash.... Read More
Personal consumption continues to make up a larger portion of U.S. GDP as time progresses.... Read More
Over 40% of FDIC deposits in the U.S. are uninsured.... Read More
Japanese growth is slowing, inflation expectations are falling and the Bank of Japan has few options, despite their insistence they have enough ammunition.... Read More
Eurozone growth is slowing, inflation expectations are de-anchoring, the financial system is under stress and the ECB has few options.... Read More
One month does not make a trend, but today's ADP report included a few reasons for concern.... Read More
A comparison of the assets and liabilities of the wealthiest 1% of Americans versus the rest of the country... Read More
Credit limits in the U.S. have surpassed pre-crisis levels, but utilization rates remain low.... Read More
Since 2005, student loan debt has grown at an astronomical rate.... Read More
People under 30 hold a relatively small amount of debt compared to other age groups. Student loans make up the largest portion of their debt.... Read More
Since the housing crash, mortgage originators have lent far less money to people with the riskiest credit scores.... Read More
Household debt broken down by delinquency status... Read More
While capital flight is nothing new for China, evidence is mounting that the trade war has intensified the rate at which money is leaving the country.... Read More
The current expansion is about to turn 10 years old and become the longest in U.S. history. While it will soon claim the longevity crown, it has lagged in other areas.... Read More
An update of the U.S. housing market... Read More