AMAZON Lays off 18,000 employees Across, United States, Canada & Costa Rica…
Soft landing is off the table. Recession incoming 😢 pic.twitter.com/fCs8BXqdHd
— Wall Street Silver (@WallStreetSilv) January 19, 2023
FED'S WILLIAMS: THE FED MUST MAINTAIN ITS CURRENT POLICY UNTIL INFLATION RETURNS TO 2%.
— Breaking Market News (@financialjuice) January 19, 2023
#copper just keeps on climbing. Gasoline keeps climbing, oil keeps climbing. you can just see the inflation coming. pic.twitter.com/SqRz020MAH
— Michael J. Kramer (@MichaelMOTTCM) January 19, 2023
The NYFed recession indicator is now at a higher level than prior to the Great Financial Crisis of 08, and the highest level since the 80s. pic.twitter.com/vdtz2gxntO
— Don Johnson (@DonMiami3) January 19, 2023
The 30-year US mortgage rate has moved from 7.08% to 6.15% over the last 10 weeks, the largest 10-week decline (-93 bps) in rates since January 2009. pic.twitter.com/XwKrchTyh0
— Charlie Bilello (@charliebilello) January 19, 2023
Cost of Default protection on the USA, debt ceiling drama Act #1 in Washington. pic.twitter.com/GybBaW1yuW
— Lawrence McDonald (@Convertbond) January 19, 2023
The Dow Jones is the first U.S. stock market index to turn negative in 2023. There's eight more trading days left in the month for the other major averages to follow suit. If the early rally was a head fake and January ends as a down month, it bodes ill for the rest of the year.
— Peter Schiff (@PeterSchiff) January 19, 2023
“The Fight against Inflation May Take Somewhat Longer”: IMF
Whether it is Europe’s inflation struggle, China’s real estate crisis or global protectionism, Gita Gopinath is skeptical about the immediate future. In an interview, though, the deputy head of the IMF also sees small glimmers of hope.
Recession Watch: The Yield Curve is the Most Inverted Since the Early 1980s
On the dismal retail sales report on Wednesday, the yield curve steepened towards deeper inversions.
The US Consumer Has Cracked: Discover Plunges After “Shocking” Charge-Off Forecast
First, the total amount of credit card debt hit a new all time high, which however was to be expected from one of the most consistently increasing series across all US economic data, and one which predictably is correlated to the US savings rate which is at all time lows.