Bloomberg News with some distressing news: U.S. homeowners seeking to delay mortgage payments topped 3.4 million, up 17% from a week earlier, according to Black Knight. About 6.4% of mortgage borrowers have entered forbearance
— Robert Burgess (@BobOnMarkets) April 24, 2020
Credit card companies are reducing card limits to mitigate future losses from borrowers who can't pay. Since America's bubble economy has been driven by consumers spending borrowed money, if they can't charge it, they can't buy it. The Fed's house of cards is about to collapse.
— Peter Schiff (@PeterSchiff) April 24, 2020
US earnings revision ratio is back to ‘08 lvls. Is the low for equities in? Don’t think so. Stocks have never bottomed w/ Consumer Conf. 18pts off cycle highs & heading for recession. Nov ‘01 was the low for US ERR; equities bottomed 16M later following an 83pt decline in conf. pic.twitter.com/1K3xbAMBJM
— Julien Bittel, CFA (@BittelJulien) April 24, 2020
Small banks in US will blow up
t.co/lVwyItf7Q9— A.Urban (@AlessioUrban) April 24, 2020
New orders for nondefense aircraft and parts was -$16.3 billion, a 296% decline.
*orders include cancellations and are netted t.co/zzOgK1aPFZ
— Sam Ro 📉 (@SamRo) April 24, 2020
JPMorgan is tracking US alternative data the way they were tracking China’s in January:
*rush-hour commute time
* restaurant seating
* mass-transit ridership #COVID19 pic.twitter.com/8ibyT2MMP5— Carl Quintanilla (@carlquintanilla) April 23, 2020
DEUTSCHE: “Looking at jobless claims numbers over the past five weeks shows dramatic differences between unemployment rates across the country with some states at 6% and other states at 25%.” pic.twitter.com/k5eREwshT1
— Carl Quintanilla (@carlquintanilla) April 24, 2020
GOOGLE TO CUT MARKETING BUDGET IN HALF, FREEZE HIRING – CNBC
— FXHedge (@Fxhedgers) April 23, 2020
CORONAVIRUS UPDATE: CHINA, HARBIN CITY 10M PEOPLE ON LOCKDOWN AFTER 87-YEAR-OLD MAN TESTED POSTIVE AND INFECTED 78 PEOPLE, WITH 55 CONFIRMED
— First Squawk (@FirstSquawk) April 24, 2020