Still an Astonishing Labor Market: Very Tight or Getting Even Tighter in Some Sectors…
Powell is going to mention this with some frustration in his voice.
Month: May 2023
Continuing to Get Straight the Facts About the American Economy: AIER
Let us hope that at least we Americans soon recover from our infatuation with government power.
What Comes After the Debt Ceiling?
Most market participants are viewing a debt ceiling deal as bullish. While there may very well be a positive initial reaction, we expect a significant tightening of liquidity conditions in….
U.S. Consumer Debt Piles up to $17 Trillion
More, more, more. According to the New York Fed’s Quarterly Report on Household Debt and Credit, total household debt climbed to $17.05 trillion in the first quarter of 2023, an….
Central Banks Will Pivot Quickly. Stagflation Coming: Lacalle
He sees a mild economic slowdown – more-so than a severe recession – due to his belief that central banks will pivot quickly if economic activity slows sharply. For that….
A $4 Trillion Spending Splurge to Bankrupt America
President Joe Biden and Speaker of the House Kevin McCarthy are each loudly proclaiming victory in the deal they finally struck this weekend to raise the debt ceiling. MARCUS: Let’s….
Moscow Outlines Brics Bank Priorities
“The task of the BRICS is to unite, not to divide. Therefore, when the BRICS countries decided to create the NDB, we pursued one simple goal: to create a financial….
Watch Yield Curve For When Stocks Begin To Price Recession Risk
US large-cap indices are currently diverging from recessionary leading economic data. However, a decisive steepening in the yield curve leaves growth stocks and therefore the overall index facing lower prices.
Large Specs Are Record Short Stocks
Leading into the weekend, where the debt ceiling had not been settled, markets were exhibiting very interesting positioning. To start, US Treasuries across the maturity spectrum were hugely out of….