US existing home sales have been falling faster today than they did during the Great Financial Crisis
Source: Morgan Stanley
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
China Celebrated Lunar New Year Like Covid No Longer Exists
Source: Bloomberg
Disinflation in one chart
In the 90s, a company needed 8 employees to generate $1 million in revenues. Due to technology, now it needs 2. Source: MacroAlf
Fed fund rate above Core PCE for the first time since the pandemic!
For the first time since February 2020, Fed funds rates are positive in real terms as the Core PCE index came out at 4.4% (vs. 4.5% for the Fed funds rate). This bodes well for an imminent halt in rate hikes, unless the US economy surprises on the upside. Source: Bloomberg
The UK has been lagging other developed economies
Souce: Bloomberg
More evidence of a decline in the US Inflation Rate...
The PCE Price Index moved down to 5%, its lowest level since September 2021. Peak was 7% in June 2022. Source: Charlie Bilello
