The richsession...
A record-high share of US consumers are planning to go on vacation to a foreign country within the next six months. Via Apollo/Slok
Stock markets care much more about US Treasury auctions now than they used to
Chart from Citi’s Stuart Kaiser thus Lisa Abramowitz
Japanese investors are selling US corporate debt at a record pace 👀
Source: Bloomberg
U.S. Banks have fallen to an all-time low against the S&P 500
Source: FT, Barchart
This has happened ONLY 2 times in the last 75 years. In the US, savings as a % of income is now contracting, indicating that people are find it VERY hard to save
The last 2 contractions happened in: - 2008 - 2020 High interest rate + high debt is a MAJOR problem for people Source: Game of Trades
Moody’s cuts U.S. credit outlook from stable to negative. Will markets just shrug it off on Monday?
Source: Trend Spider
200+ years of US interest rates…
The Long View @HayekAndKeynes
Demographics is becoming a serious issue for US growth
As shown on the chart below, US population growth has collapsed, reaching levels near 0% indicating almost NO growth. This is actually the worst population growth setup seen in over 100 years of US history. Current levels have NEVER been seen in 100+ years. Even during the Great Depression, population growth bottomed out at around 0.5% Source: Game of trades
