US banks are losing deposits on a year-on-year basis.
This is very unusual, and negative deposit growth was indeed last recorded over 30 years ago.
Banks might soon be forced to step up their game and pay more on deposits to retain customers at the expense of margins.
— Alf (@MacroAlf) February 20, 2023
"The consumer is very strong" pic.twitter.com/4BC3AwMRHD
— Markets & Mayhem (@Mayhem4Markets) February 20, 2023
The average monthly payment for a new car has increased to a record $777, nearly doubling from late 2019, according to Kelley Blue Book owner Cox Automotive.
— unusual_whales (@unusual_whales) February 20, 2023
BREAKING: Credit card balances have hit a record high of $986 billion in the US.
— unusual_whales (@unusual_whales) February 20, 2023
The #Biden Administration will likely deeply regret drawing down #reserves for a one time gimmick to knock gas prices down. When you have to refill the reserves the #supply/#demand imbalance won't be kind to consumers. pic.twitter.com/aFpKDoxh4E
— Lance Roberts (@LanceRoberts) February 20, 2023