The Interest Expense on US National Debt rose to a record $1.178 trillion in the last 12 months, an increase of 142% over the past 4 years.
The US Government now spends more money on interest than it does on National Defense. Source: Charlie Bilello
Markets start to be leaning towards this idea...
Source: Damaan, AKA "Philly's Finest"! @Damaan4u33
DOGE has had no impact
Deficit in 2025 is bigger than 2024, 2023… Source: The Long View @HayekAndKeynes
February inflation data is out…
• PPI 3.2% YoY, (Est. 3.3%) • PPI 0% MoM, (Est. 0.3%) • PPI Core 3.4% YoY, (Est. 3.5%) • PPI Core -0.1% MoM, (Est. 0.3%)
Bonds don't love the cooler-than-expected February CPI report
Weakness in airfares may not show up in the PCE, the Fed's preferred gauge, which pulls that price data from the PPI And still-firmer goods prices could lead to core PCE, for a change, running higher than core CPI Source: Nick Timiraos @NickTimiraos
The US dollar is off to its worst start of the year in decades.
Source: The Daily Shot
US inflation comes in lower than forecast:
Headline CPI slows to 2.8% in Feb from 3% in Jan, smallest since Nov2024, Core CPI cools to 3.1%, lowest since Apr2021. Housing inflation cools; airfares and pump prices drop. BUT: Inflation data doesn’t yet reflect tariff impact. Source: HolgerZ, Bloomberg
The United States now accounts for just 0.1% of global shipbuilding… 0.1%
Meanwhile, China alone is 53%+. (h/t: @BrianTHart) thru Geiger Capital
