Authored by Alex Deluce via NIRP Umbrella blog,
After three decades of extensive money printing, debt accumulation and devastating financial bubbles millennials are experiencing what it feels like to never leave the parents’ nest egg. With The Fed's prolonged zero interest rate policy boosting housing prices back to near 2007 levels, young people simply can’t afford to buy a home.
Since The Fed began its 'tightening cycle' in December 2015, the Treasury yield curve (2s10s) has flattened dramatically, tumbling back today towards cycle lows (and well below Trump-election-hope lows). What is perhaps more worrisome is the historical trend strongly suggests this trend is far from over and an inverted yield curve looms.
The trend is clear that Fed policy is running counter to growth expectations and all the hope that Trump offered has been erased completely.
Authored by Vitaliy N. Katsenelson via MauldinEconomics.com,
We are having a hard time finding high-quality companies at attractive valuations.
Dude!! What's wrong with you brah?
While everyone wants to talk about what a great opportunity today was to BTFD in FANG stocks, we wanted to note one quick thing - US Macro data has crashed to 16 month lows...
At the end of February we first highlighted something extremely troubling for the global "recovery" narrative: according to UBS the global credit impulse - the second derivative of credit growth and arguably the biggest driver behind economic growth and world GDP - had abruptly stalled, as a result of a sudden and unexpected collapse in said impulse.