Citi card spending: "March to date is down 8.9% and is on pace to be the weakest month since April 2022. Ex-Food spending decreased 13.7% vs -13.0% in March"
"These past two weeks of deceleration reflect spending pressure potentially stemming from disruption within the financial sector, unfavorable weather, SNAP benefit reduction and/or lower tax rebates"
@zerohedge Bond bullish, lower yields. Hard to know for stocks
@zerohedge No check on ZeroHedge - have to go searching for the fun posts now... Tyler you need $7 I'll spot you some silver ✌🏽
@zerohedge THIS LOOKS TO ME AS PEOPLE ARE WEARY OF CREDIT, SAVING IS INCREASING??
@zerohedge I'd say bullish but these are OMFG bad.... bullish!!!!!
@zerohedge Fed and treasury should open a favorable low interest loan window to address this , oh wait these are commoners and not top 5%, never mind , let them pay 20% rates while banks get their loses covered on treasuries that they bought
@zerohedge Can they also give their under water collateral and get par valuation from Fed and get low interest loans ?
@zerohedge Would like to think this means obese Americans are consuming less in the face of inflation but nope, not it Inflation is just cooling
@zerohedge Big banks are heavily exposed to consumer credit x.com/ramahluwalia/s…
@zerohedge Big banks are heavily exposed to consumer credit x.com/ramahluwalia/s…