THE GREATEST CASH OUTFLOW SINCE FEBRUARY 22, $41.9 BILLION FROM STOCKS, $10 BILLION FROM BONDS, AND $0.1 BILLION INTO GOLD IN THE WEEK TO WEDNESDAY – BOFA
— Breaking Market News ⚡️ (@financialjuice) December 23, 2022
BOFA: RECORD $27.8 BLN OUTFLOW FROM PASSIVE EQUITIES, RECORD $17.2 BLNN OUTFLOW FROM US VALUE FUNDS. LARGEST INVESTMENT GRADE IG + HY OUTFLOW IN 9 WEEKS.
— Breaking Market News ⚡️ (@financialjuice) December 23, 2022
⚠️ GLOBAL EQUITY FUNDS SEE BIGGEST WEEKLY OUTFLOWS SINCE MARCH 2020 -LIPPER
– Full story via Reuters at t.co/V3aQNImwH2
— PiQ (@PriapusIQ) December 23, 2022
Don't worry – it's not like conditions favor an imminent stock market crash or anything.
— Michael A. Gayed, CFA (@leadlagreport) December 23, 2022
US DURABLE GOODS ACTUAL -2.1% (FORECAST -1%, PREVIOUS 1.1%) $MACRO
— Breaking Market News ⚡️ (@financialjuice) December 23, 2022
⚠️ BREAKING: US CONSUMER SPENDING MOM ACTUAL 0.1% (FORECAST 0.2%, PREVIOUS 0.8%) $MACRO
— Breaking Market News ⚡️ (@financialjuice) December 23, 2022
Blackrock: Central banks are ‘deliberately’ causing recessions
“Many experts have already sounded the alarm on the U.S. economy. But you still want to pay attention to what BlackRock — the world’s largest asset manager — has to say for a very simple reason: it’s predicting a recession unlike any other.
“Recession is foretold as central banks race to try to tame inflation,” BlackRock’s team of strategists write in their 2023 Global Outlook.
In fact, the strategists believe that central banks are “deliberately causing recessions by overtightening policy” in an effort to bring price levels under control.”
The Housing Market Is In A Free Fall
It’s not going to get better for the housing market. Despite an 80 basis point decline in 30-yr fixed rate conforming mortgages (20% down, minimum 740 FICO), the mortgage purchase apps index declined 0.1%..
Out of Cash, Many Americans Add to Their Credit Card Debt During the Holidays
Some consumers who have exhausted their excess cash built up in the pandemic are now turning to credit cards to fund their holiday spending.