- There was no 30-year bond difficulty within the interval highlighted in yellow.
- The ten-3 month inversion is 64 foundation factors, the deepest since January 2001.
- The 30-year-to-3-month inversion is 57 foundation factors, the deepest since November 2000.
- The ten-2 yr inversion is 71 foundation factors, the steepest since October 1981 (see chart beneath).
10-year minus 2-year Treasury yield
Now we have by no means seen such a robust inversion earlier than, besides proper earlier than or throughout a recession.
This time will likely be no completely different. A recession is coming, if it hasn’t already began.
Current house gross sales fell by an additional 5.9 p.c within the ninth month
On November 18, I commented Current Dwelling Gross sales Decline for ninth Month, One other 5.9 % Drop
Current Dwelling Gross sales Crash
- Current house gross sales have been down 28.4% from a yr in the past.
- Current house gross sales are down 31.7% since January.
It is a meltdown. And we have by no means seen a decline like this besides through the recession.
Scroll to Proceed
California faces a $25 billion finances downside with ongoing deficits
Please notice that California is spending as if the tech growth will final ceaselessly. Earlier than the recession, California was going through a $25 billion finances downside with ongoing deficits
Governor Newsom is unofficially operating for president in 2024. It would turn out to be official on the day President Joe Biden proclaims he won’t run for re-election.
If the Democrats had held the Home, the free cash additions would have gone to California, Illinois, New York, New Jersey, and so forth. they might have been large.
Huge layoffs, together with 1000’s at Amazon and FedEx throughout peak transport season
Lastly, please take into account the huge layoffs, together with 1000’s at Amazon and FedEx through the peak transport season
Amazon, Fb, Redfin, FedEx, Stripe, Twitter, and tech corporations usually are all shedding employees.
To not fear, Biden says there isn’t any recession and the economic system is robust. Not solely is it completely different this time, it’s totally completely different now.
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