The US labour market is on recession alert as job market cools with large discrepancies between establishment survey and household survey.
👉 The establishment survey showed 151,000 new jobs in Feb, LESS than expected. 👉 According to the household survey, 588,000 jobs were cut in Feb, which is why the unemployment rate has risen to 4.1%, although the participation rate has also fallen from 62.6% to 62.4%. Source: HolgerZ, Bloomberg
BREAKING: US February NFP lower than expected!
➡️ Nonfarm Payrolls 151K (est. 160K, prev. 125K) ➡️ Private Nonfarm Payrolls 140K (est. 142K, prev. 81K) ➡️ Unemployment rate 4.1% (est. 4.0%, prev. 4.0%) ➡️ Average hourly earnings YoY 4.0% (est. 4.1%, prev. 3.9%) ➡️ Labor force participation 62.4% (est. 62.6%, prev. 62.6%) Source: Jayanth Ukwaththa on X, US Bureau of Statistics
🚨HOLY COW: Hedge funds dumped global stocks at the fastest pace on RECORD over the last 2 weeks.
The majority of sales were in US equities and were even larger than during the 2022 BEAR MARKET. Meanwhile, sp500 and Nasdaq 100 are down 'just' 6% and 9% since their peaks. Source: Global Markets Investor
Italy's bond yield just crossed 4%! Thanks to Germany's embracement of debt to invest in defense and infrastructure.
Who remember what happened in 2011/2012? At the time the debt to GDP ratio was 108%. Today it is 140%... Source: Jeroen Blokland, Bloomberg
Deja vu all over again???
Source: www.zerohedge.com, Bloomberg
The US National Debt is currently at $36.6T or $323K per taxpayer
source : usdebtclock.org
Europe's high-debt countries - like France, Italy and Spain - cheer Germany's fiscal expansion.
They're not doing that out of the goodness of their hearts. Germany now can't possibly say no to more joint EU debt issuance. A win for high-debt countries and their muddle through... Source: Robin Brooks
US economic data related to the CONSUMER has surprised to the DOWNSIDE by the most in over 2 years.
This comes as Americans pulled back on spending due to deteriorating labor market conditions and high inflation. 🚨Spending reflects 2/3 of the US GDP. Source: Global Markets Investor, Goldman Sachs
