The 1-Year US Treasury yield trades at its highest level since August 2007
The 1-Year US Treasury yield has moved up to 4.85%, its highest level since August 2007. A year ago it was at 0.88% and in mid-2021 it hit an all-time low of 0.04%. Sourc: Charlie Bilello
The rise of Tesla
Sales, 10 Yrs Ago: GM: $152 billion; Ford: $134 billion; Tesla: $0.4 billion. Sales Today: GM: $157 billion; Ford: $158 billion; Tesla: $81 billion. Net Income, 10 Yrs Ago: GM: $6.2 billion; Ford: $5.6 billion; Tesla: -$0.4 billion. Net Income Today: GM: $10 billion; Ford -$2 billion; Tesla: $13 billion. Source: Charlie Bilello
FED swaps price in 50bp of rate cuts for second half of 2023
Source: Bloomberg, Alessio Urban
German housing market remains in a freeze
Mortgage lending was down 43% YoY in December, representing 4th negative record in a row since data records began in 2003. Compared with peak of €32.3bn from March 2022, the decline is almost 60%. Source: HolgerZ, Barkow consulting
The annual interest rate payment on US Government Debt is $850 Billion and rising fast
At the current pace, interest on US government debt will soon hit one trillion dollars... Source: MishTalk.com, www.zerohedge.com
Markets have entered the best part of the 4-year presidential cycle
Source: ht @SethCL, Michel A.Arouet
Friday's payrolls report changed the landscape a bit for Fed funds expectations
On Thursday, traders were pricing in peak rates below 4.9% and 50bp of rate cuts by yearend. Today, they're pricing in peak rates of 5.1% and less than 30bp of rate cuts. Source: Bloomberg, Lisa Abramowicz
Corporate bonds yield less than the Fed funds rate for the first time in 30 years
Source: Tavi Costa, Bloomberg
