Homelessness in the US has grown to the highest level since the Department of Housing and Urban Development (HUD) started tracking the figure back in 2007
With a record 653,104 people experiencing homelessness at the latest annual count. The number of people experiencing unsheltered homelessness — those living on sidewalks or in abandoned buildings, bus stations, etc. — was up around 47k from last year, while the figure for people staying in emergency shelters, transitional housing programs, or safe havens grew 23k in the same period. Source: Chartr
The pain trade in one chart: Most shorted US stocks gained 11.3% this week. Performance YTD now on par w/S&P 500
Source: Bloomberg, HolgerZ
Was the FED ULTRADOVISH move on Wednesday driven by a "Trump fear"?
New swing state polling is brutal for Biden... It wasn't the case 3 weeks ago... Source: alx
Unemployment rate in America from 1955-2023
Interesting how the unemployment rate tends to spike right after the Fed cuts rates. Suggesting that Fed policy easing is usually a negative signal for the economy. Not a positive one. Source: FRED, re:venture
BREAKING: US House votes to authorize an impeachment inquiry into President Biden.
This escalates a probe that has been open for months. The House voted 221 to 212 to open the inquiry. Biden family finances and businesses are in focus. Another historic development in 2023. Source: The Kobeissi Letter
After 2 years of the most aggressive FED rate hike cycle since the 1980s, the price of US houses (3 years change) is rising at the fastest pace in 40 years...
that sounds a bit counterintuitive at first glance as most surveys show that the housing affordability is at record low Source: BofA
Who owns US Treasuries? For the first time since 1998, the private foreign sector now holds more US Treasuries than the official foreign sector
For 25+ years, the biggest foreign holders of US Treasuries were central banks around the world. However, this has now changed. reasons? QT but also foreign central banks buying less US Treasuries. Meanwhile, yield starving private investors keep accumulating US Treasuries. Source: Apollo, The Kobeissi Letter
US CPI has moved down from a peak of 9.1% in June 2022 to 3.1% today
What's driving that decline? Lower rates of inflation in Fuel Oil, Gas Utilities, Gasoline, Used Cars, Medical Care, Apparel, New Cars, Food at Home, Electricity, and Food away from Home. Shelter and Transportation are the only major components that have a higher inflation rate today than June 2022. Source: Charlie Bilello
