U.S. Households are now spending a record $573.4 billion on non-mortgage interest payments which for the first time in history is roughly the same as mortgage interest payments.
source : Barchart
With Powell's remarks, Wall Street's hopes for a March rate cut (once 97%) officially hit 0.
With Powell's remarks today, Wall Street's hopes for a March rate cut (once 97%) officially hit 0. "Maybe he should consider using models that have been consistently accurate, instead of listening to those who give him 'different answers' (his words) that have been consistently wrong." From : Mitchel Krause, hedgeye : With Powell's remarks today, Wall Street's hopes for a March rate cut (once 97%) officially hit 0. "Maybe he should consider using models that have been consistently accurate, instead of listening to those who give him 'different answers' (his words) that have been consistently wrong." From : Mitchel Krause, hedgeye :https://app.hedgeye.com/insights/147337-mitchel-krause-how-wall-street-s-hopes-for-march-cuts-quickly-collaps?type=guest-contributors
France's 2023 Deficit 'Significantly' Above 4.9%' (BBG)
France's budget (in)discipline... Since the Great Financial Crisis in 2008, France managed to keep its budget deficit below the 3% threshold (remember the Maastricht Treaty) just once (2018). This is far worse than Italy. France's debt-to-GDP ratio is at 110%, up from 64% pre-financial crisis. With potential GDP growth at a paltry 1% and declining, structurally low interest rates is needed to keep the debt burden afloat. Source: Jeroen Blokland, Bloomberg
According to latest Fund Manager Survey by BofA, nobody is expecting higher inflation
Source: TME
The interest payments on US Federal Government Debt have surpassed a $1 trillion annual rate, increasing 98% over the past 3 years
Source: Charlie Bilello
Eurozone CPI slowed less than anticipated in Feb, highlighting stickiness in inflation
Headline inflation eased to 2.6% YoY in Feb, above 2.5% consensus estimate in BBG survey. Core inflation came down by 0.2%-pt to 3.1%, also an upward surprise compared to 2.9% consensus estimate. Source: Bloomberg
Supercore PCE MoM exploded, highest since Dec 2021
Source: www.zerohedge.com, Bloomberg
Today's report unveiled the largest positive surprise in US personal income since the surge in consumer prices began in 2021
Source: Tavi Costa, Bloomberg
