Barry Sternlicht Says The U.s. Is Going To Go Into A “Serious Recession,”… Peter Schiff: This Banking Crisis Is the Cusp of a Much Worse Financial Crisis

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Treasury yields fall after data shows U.S. job growth slowed in March

U.S. government debt prices were higher on Monday, after data released last week hinted at a slowdown in job growth.

The yield on the benchmark 10-year Treasury note slipped to 3.363%, while the yield on the 30-year Treasury bond dipped to 3.584%. The 2-year note yield, meanwhile, fell about 4 basis points to 3.933%. Prices move inversely to yields.

https://www.cnbc.com/2023/04/10/treasury-yields-fall-after-data-shows-us-job-growth-slowed-in-march.html

The Federal Reserve’s preferred bond market signal of an upcoming recession has plunged to fresh lows, bolstering the case for those who believe the central bank will soon need to cut rates in order to revive economic activity.

https://www.reuters.com/markets/us/powells-curve-plunges-new-lows-flashing-us-recession-warning-2023-04-06/

Federal Reserve Bank of Dallas surveyed 71 banks late last month, and found a significant drop in lending.

  • Loan demand declined for the fifth period in a row as bankers in the March survey reported worsening business activity. Loan volumes fell, driven largely by a sharp contraction in consumer loans.
  • Banking outlooks continued to deteriorate, with contacts expecting a contraction in loan demand and business activity and an increase in nonperforming loans over the next six months.
  • It already costs more to borrow money, as a result of rising interest rates. And the recent failure of two big regional banks is likely to make other lenders even stingier.

Sources:

https://www.dallasfed.org/research/surveys/bcs/2023/bcs2302

https://www.npr.org/2023/04/09/1168746307/credit-crackdown-weighs-on-businesses