Used car prices increased again for the 5th month in a row
Prices continue to firm up at historical levels, despite being down about 2% on a year-over-year basis. Inflationary forces remain stubbornly high due to structural macro drivers. The Fed just erased 5 months of QT in two weeks. Will it add fuel to the inflation fire? Source: Tavi Costa, Bloomberg, Crescat Capital
Unemployment rate increased to 3.6%, above expectations
February US jobs data was mixed. US economy created 311k new jobs in February, above forecast of 225k but household numbers below forecasts with unemployment rate rises to 3.6% above 3.4% expected AND wages cool. Monthly wages rose 0.2% vs 0.3% expected.
Traders see half-point Fed hike in March as more likely scenario after hawkish Powell
Fed Terminal rate now at 5.6% - via Bloomberg and HolgerZ
Why you need to invest, in one chart...
Source: Charlie Bilello
Coal stocks pressing to new multi-year highs
Not really the market action which was expected... In the face of limited energy supply, coal stocks are booming to a surge in coal demand. Source: Steven Strazza, All Start Charts
Climbing the wall of worry: US equities sentiment remains bearish
According to Goldman's average percentile of 16 sentiment & positioning indicators, sentiment today is more bearish than it was 1 month ago and 3 months ago. Peculiar. Climb the wall of worry.
Stocks and Treasuries are very correlated again
Source: Goldman Sachs, The Market Ear
AI is a hot topic in earnings calls
Source: FT
