Americas
Markets
Current levels of tight lending standards by banks has systematically led to market drawdowns
— Game of Trades (@GameofTrades_) May 7, 2023
This time is not different pic.twitter.com/f3s4qIMZMl
Private equity's looming bankruptcy boom – Axioshttps://t.co/fwz4RzfbCV
— Christophe Barraud (@C_Barraud) May 9, 2023
*Focus on Banks
The ongoing tightening of credit conditions suggests that C&I Loan growth should turn negative soon.https://t.co/nRBa9jdfhQ pic.twitter.com/Snid5j1T48
— Christophe Barraud (@C_Barraud) May 8, 2023
Credit conditions for credit card loans kept deteriorating in 1Q23.https://t.co/DK7l48M0m4 pic.twitter.com/2WBcA8hjgr
— Christophe Barraud (@C_Barraud) May 8, 2023
The Loan Officer Survey was released yesterday and the demand for credit is basically gone..
— AndreasStenoLarsen (@AndreasSteno) May 9, 2023
Morning news -> https://t.co/xrEVkezFLx pic.twitter.com/1t4hmLqGgv
*Focus on CRE
US Lenders Warned That Commercial Property Is ‘Next Shoe To Drop’ – FThttps://t.co/NQ3tE4Ap5y
— LiveSquawk (@LiveSquawk) May 9, 2023
The latest Fed senior loan officer survey showed a broad-based tightening in loan standards *before* the failure of Silicon Valley Bank became modestly worse after the bank's collapse
— Nick Timiraos (@NickTimiraos) May 8, 2023
67% of banks reported tighter standards for CRE, up from 58% in Janhttps://t.co/Gh2kORjlRm pic.twitter.com/iSVXj92Fbm
Economic Indicators and Prospects
#SLOOS has a pretty good track record (100% historically) for determining soft and hard landings after a Fed tightening cycle. #macro pic.twitter.com/P4d1sRQIW4
— Kantro (@MichaelKantro) May 8, 2023
C&I loan demand plummets to 2009 financial crisis levels; at the same time, demand for credit card, auto and mortgage loans staged a modest bounce.
— zerohedge (@zerohedge) May 8, 2023
In other words, no growth for corporations as consumer lever up just in time for record interest rates pic.twitter.com/WoebvcZJNo
Interest rate on credit cards has now surpassed a staggering 20%
— Game of Trades (@GameofTrades_) May 8, 2023
This is the highest level ever seen since 1995 pic.twitter.com/sNxLLIzT5a
Short-Term #Inflation Expectations Decline; Perceived and Expected Credit Conditions Mostly Unchanged – FRBNYhttps://t.co/pUlbFsTIur. pic.twitter.com/PCS54sk2qK
— Christophe Barraud (@C_Barraud) May 8, 2023
Housing
Yes friends, home prices are inching up on tight inventory – despite affordability challenges.
— Mike Simonsen (@mikesimonsen) May 8, 2023
Though 2 of 3 Altos price measures are YoY, the weekly is improving.
Inventory actually declined this week to 419k single family homes.
The @AltosResearch video has details
1/7 pic.twitter.com/Z53QVwW0GG
Housing Market in San Francisco Is Turning as Home Prices Rise – Bloomberg https://t.co/CXZngZVKGB
— US Real Estate Market News (@usaregtweets) May 9, 2023
Monetary Policy
#Fed Flags Concerns Over Credit Tightening, Financial Stress – Bloomberghttps://t.co/4iLxICX1qN
— Christophe Barraud (@C_Barraud) May 9, 2023
“Powell’s Bet Against Recession Looks Good — Minus the Credit Crunch and a DC Standoff” … if you’re not laughing, you’re crying. https://t.co/AUvLvh3aI5
— Claudia Sahm (@Claudia_Sahm) May 8, 2023
Fiscal Policy
What’s required to motivate politicians to break the current impasse on the US debt ceiling? A financial-market shock, says Daleep Singh, a former Biden administration economic adviser https://t.co/CymQrj2Xrn
— Bloomberg Economics (@economics) May 9, 2023
#Fed’s Goolsbee Warns Debt-Limit Showdown Is Clouding Economic Outlook – Bloomberghttps://t.co/joWlvxkj9W
— Christophe Barraud (@C_Barraud) May 9, 2023
Yellen Blasts Draconian Republican Cuts, Pushes Debt-Limit Hike – Bloomberghttps://t.co/uacxHA9Wkg
— Christophe Barraud (@C_Barraud) May 9, 2023
Trade, Politics and Geopolitics
The 36% rating for #Powell is the lowest Gallup has measured for him during his six years as #Fed chair. It is also the lowest reading Gallup has had for any prior Fed chair.-Gallup
— CN Wire (@Sino_Market) May 9, 2023
Source: https://t.co/HC4sBNdxlU pic.twitter.com/v8L1N7cHBX
A New York judge barred Donald Trump from disseminating evidence from his criminal case on social media https://t.co/qFZt46RL44
— Bloomberg (@business) May 8, 2023
Biden wants airlines to give you meals, miles and cash for delayed flights https://t.co/eCgLYmirLX
— Bloomberg (@business) May 9, 2023
Prime Minister Justin Trudeau’s government has expelled a Chinese envoy from Canada, a move that could prompt economic or diplomatic backlash from President Xi Jinping. https://t.co/73wAeaJV9L
— The Japan Times (@japantimes) May 9, 2023
Asia
Markets
China’s Speculative Stock Frenzy Spreads To Brokers And Media – BBGhttps://t.co/jltcq5wIJP
— LiveSquawk (@LiveSquawk) May 9, 2023
Economic Indicators and Prospects
#China Export Growth Slows, Imports Plunge as Recovery Wane – Bloomberghttps://t.co/av0jNRX0PV pic.twitter.com/hoRCzxs9NQ
— Christophe Barraud (@C_Barraud) May 9, 2023
NBS: CHINA 2022 NOMINAL EMPLOYER ANNUAL WAGES GREW 5.0% Y/Y TO 92,492 YUAN ($13,358).
— CN Wire (@Sino_Market) May 9, 2023
PRIVATE SECTOR +3.7% TO 65,237 YUAN ($9,422), PREV. +8.9%.
NONPRIVATE SECTOR +6.7% TO 114,029 YUAN ($16,469). PREV. +9.7%.
#China #wages #EconTwitter pic.twitter.com/TtXXFWB7yb
Australia Q1 Retail Sales Volumes Fall For A Second Straight Quarter – RTRShttps://t.co/DZhgNBfSTp
— LiveSquawk (@LiveSquawk) May 9, 2023
Taiwan’s exports fell in April at a slower pace than the month before, in a sign that the deep global slump in demand for electronics may be bottoming out https://t.co/djZtE1foKB
— Bloomberg (@business) May 8, 2023
Japan Real Wages Drop For 12th Straight Month, As BoJ, Kishida Scrutinize Pay – BBGhttps://t.co/e85qyTQo9v
— LiveSquawk (@LiveSquawk) May 9, 2023
Monetary Policy
Bank of Japan Governor Kazuo Ueda says he intends to scrap the central bank’s yield curve control program once sustainable inflation target comes into sight https://t.co/qOcUQaVPlY
— Bloomberg (@business) May 9, 2023
Fiscal Policy
Australia is headed for its first budget surplus since 2008 as windfall tax revenue and elevated commodity export prices combine to swell the government’s coffers https://t.co/UpY4wMYogH
— Bloomberg (@business) May 8, 2023
#China | The macro leverage ratio — or total debt as a percentage of gross domestic product — soared to 279.7% in the first quarter, according to central bank and statistics bureau data compiled by Bloomberg. *That was an increase of 7.7 percentage points from the previous… pic.twitter.com/t9I7DyrmvC
— Christophe Barraud (@C_Barraud) May 8, 2023
World Bank's outgoing chief David Malpass says China remains at an impasse when it comes to restructuring debts owed to it by developing countries https://t.co/4zndgjbaSD
— Bloomberg Markets (@markets) May 9, 2023
Trade, Supply Chain and Geopolitics
Chinese Foreign Minister Qin Gang and US Ambassador Nicholas Burns meeting signals Beijing may soon allow more senior-level discussions after rebuffing requests from the Biden administration https://t.co/Wfpg4zWimE
— Bloomberg (@business) May 8, 2023
China postpones talks with German finance chief at short notice https://t.co/4afoOBpH7s via @KowalczeKamil @ArneDelfs pic.twitter.com/U6RvjAzujp
— Zoe Schneeweiss (@ZSchneeweiss) May 8, 2023
Europe
Economic Indicators and Prospects
Germany’s industrial plunge revives winter recession fears – Bloomberg https://t.co/8Cm1AqwgMF
— The Edge Malaysia (@theedgemalaysia) May 8, 2023
Housing
Swedish Housing Market Extends Rebound In Realtor Data – BBG https://t.co/1od1deA9FJ
— LiveSquawk (@LiveSquawk) May 8, 2023
Halifax says UK house prices fell for the first time this year https://t.co/KI7D9MZLCA via @ElinaGanatra pic.twitter.com/d9rtBIC2py
— Zoe Schneeweiss (@ZSchneeweiss) May 9, 2023
UK mortgage costs risk heading higher again with BOE rate hikes https://t.co/AxNOAv6fpz via @tomelleryrees pic.twitter.com/n5BFDhu1QT
— Zoe Schneeweiss (@ZSchneeweiss) May 9, 2023
Monetary Policy
#ECB’s Lane Says There’s Still Momentum in Euro-Area #Inflation – Bloomberghttps://t.co/LblqzmoMSY
— Christophe Barraud (@C_Barraud) May 9, 2023
ECB rate increases may not be finished in July, Kazaks warns https://t.co/7mQtHekEx8 via @aaroneglitis pic.twitter.com/FT0FbFPNoH
— Zoe Schneeweiss (@ZSchneeweiss) May 9, 2023
Bank Of England Set To Raise Rates To Highest Level Since 2008 – FT https://t.co/TvpzKMPOpO
— LiveSquawk (@LiveSquawk) May 9, 2023
Fiscal Policy
Germany’s off-budget funds hurt financial its credibility, OECD says https://t.co/LuBfOx9pRm via @KowalczeKamil pic.twitter.com/k3uB7Trgfm
— Zoe Schneeweiss (@ZSchneeweiss) May 8, 2023
Spain pledges aid to help younger buyers get on the housing ladder https://t.co/JucFR3HacU via @rorihuela pic.twitter.com/jxWIDVRd8Q
— Zoe Schneeweiss (@ZSchneeweiss) May 8, 2023
Energy
Natural gas purchases needed to refill Europe’s storage sites are slower than usual for this time of year despite a recent price drop with some buyers betting on a further slump https://t.co/Xpt4Shnci9
— Bloomberg Markets (@markets) May 8, 2023
Trade, Supply Chain and Geopolitics
Sunak faces calls to boost housing supply after election loss https://t.co/YnjNhVmIPH via @kitty_donaldson @alexwickham pic.twitter.com/6WxdEKcRf7
— Zoe Schneeweiss (@ZSchneeweiss) May 9, 2023
Other Areas And Global Economy
#WeekAhead: Week 19 (2023)
— Christophe Barraud (@C_Barraud) May 8, 2023
U.S. CPI
U.S. and #Canada Senior Loan Officer Opinion Surveys
Debt Ceiling Discussions
#BOE Meeting
#China CPI & PPI
…https://t.co/DWfeT1Wd2W
Inside the battle for chips that will power artificial intelligence https://t.co/SIDQXISOsI via @tracyalloway @TheStalwart pic.twitter.com/LwNZEOz25R
— Zoe Schneeweiss (@ZSchneeweiss) May 8, 2023
