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6 Oct 2023

U.S. Mortgage Rates surpassed 8% this week for the first time in more than 23 years

Source: barchart

5 Oct 2023

The construction sector in Germany is really crashing. The German PMI Construction Index fell to 39.3 in Sep from 41.5 in Aug, and the lowest level since statistics began

Source: HolgerZ, Bloomberg

5 Oct 2023

The impacts of rising interest rates on the costs of your mortgage over the life of the loan

In the US, A $400,000 house now costs over $1,000,000, with interest rates now at 7.7% from 3%. Source: WallStreet Sliver

5 Oct 2023

Turkey’s Inflation tops 60% despite massive interest rate hikes as oil surge worsens outlook

Source: HolgerZ, Bloomberg

5 Oct 2023

Is ADP the start of something big or an anomaly, knowledge_vital asks as ADP report for September saw a huge drop in new jobs to just 89k vs. 150k forecast, & down from +180k in Aug

The 89k is the softest number since Jan 2021. Large comps drove downside, they shed 83k jobs in September. Souce: HolgerZ, Bloomberg

4 Oct 2023

IS THE US ENTERING A DEBT SPIRAL LEADING TO A SOVEREIGN DEBT CRISIS?

Goldman, JP Morgan and BofA pull the alarm US debt is going parabolic! Total US debt rose by $275 billion in just ONE DAY. The US has added $32 billion in debt per day for the last 2 weeks. At the current pace, the US will add $1 trillion of debt in a month. Meanwhile: - David Lebovitz of JPMorgan Asset Management says something will break if rates continue to rise at the pace they've been going - "Fed hiking cycles always end with default & bankruptcy of extended governments, corporations, banks, investors." - BofA - Goldman Sachs: "There is a significant risk that FCIs continue to tighten until something breaks… (...) All roads appear to be leading to a continued sell-off in US + DM Rates as the market struggles to find the right clearing level for bonds (...) Risks are growing of a sharp, impulsive negative feedback loop in to other markets Source: Max Keiser, www.zerohedge.com

3 Oct 2023

US 30Year Yield reaches 2007 High

The US 30-year yield rose to the highest level since 2007. This week's Treasury selloff came after US lawmakers managed to avert a government shutdown, prompting traders to increase bets that the Federal Reserve will raise rates in November.

2 Oct 2023

The US is running 10% deficit with record low unemployment

Imagine the deficit in next recession, whenever it may come. Enjoy these positive real rates as long as they last. Source: Michel A.Arouet, Bloomberg

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