Employment, Euro PMI, Chile retail sales, Goldman index. Leveraged loans, Bank credit


Agent Orange, the self proclaimed tariff man, taking the EU:

US decelerating:

I would have expected Chile to be affected most by global warming…

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It’s becoming more clear to me that lending shifted from banks to other investment entities via the leveraged loan process, and the growth in that credit channel is what supported GDP growth as other channels faded. Most recently, however, leveraged loan growth has faded, and the weakening economic indicators tell me this time there hasn’t been any other forms of credit expansion stepping up:

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