The sky is the limit... Hartnett BofA
Porky Big Beautiful Bill set to raise US debt ceiling $5tn to $41tn. Source: BofA thru Mike Zaccardi, CFA, CMT, MBA
U.S. Housing Market has reached its most unaffordable level in history 🚨🚨
Source: Barchart, re:venture
Only 16% of respondents in a recent Deutsche Bank survey believe the Fed is completely independent, with 25% seeing political pressure leading to lower rates.
Source: DB thru Liz Abramowicz
Notable: Coming back to yesterday's US non farm payrolls
-> The 147,000 job gains in June were almost all (over 75%) in healthcare and government. Government: +73,000 Healthcare: +39,000 The government job gains looked like this: State gov't education +40,000 State gov't non-education +7,000 Local gov't education +23,000 Local gov't non education +10,000 Federal gov't -7,000 Source: Heather Long on X
It seems the world is becoming MORE comfortable with USA sovereign risk once again...
(below US CDS) Source: Bloomberg, www.zerohedge.com
Key U.S. Economic Indicators Hitting New Highs
1. Stocks: all-time high 2. Home Prices: all-time high 3. Bitcoin: all-time high 4. Money Supply: all-time high 5. National Debt: all-time high 6. CPI Inflation: 4% per year since Jan 2020, 2x the Fed's "target" 7. Fed: expected to cut rates between 1x and 2x this year 8. The US Treasury is skewing issuance further to bills (Fiscal QE) Source. Charlie Bilello
Happy Independence Day!
Source: hedgeye
Overall 2025 fed rate cut expectations tumbled on "Big Beautiful Bill" being passed & better us payrolls
Source: www.zerohedge.com, Bloomberg
