Sometimes the small businesses will tell you now what the big businesses will tell you a year from now. First the small businesses point out that their cost of debt is rising. Check back in a year or two later and you see it show up in junk bond spreads. Heads up. pic.twitter.com/FaCgPiyv5X

— Jeff Weniger (@JeffWeniger) September 8, 2023

The Mighty American Consumer Is About To Hit A Wall, Investors Say – BBGhttps://t.co/1hWUYF3hcu

— LiveSquawk (@LiveSquawk) September 11, 2023

Yellen ‘Feeling Very Good’ About Soft Landing For US Economy – @business https://t.co/Ih1lybcPVw

— LiveSquawk (@LiveSquawk) September 10, 2023

https://twitter.com/C_Barraud/status/1700070190145294828

Here are the U.S. metros (among top 150 largest) seeing the most rent growth right now, and one thing stands out: It's mostly small markets with very little new apartment construction.

In fact, only one major metro remains above 4%– Northern New Jersey.

But what really jumps… pic.twitter.com/csPY3hjjBo

— Jay Parsons (@jayparsons) September 8, 2023

🇺🇸 An Important Shift in #Fed Officials’ Rate Stance Is Under Way – WSJhttps://t.co/r4BxM568mY

— Christophe Barraud🛢🐳 (@C_Barraud) September 10, 2023

Fed’s ‘Last Mile’ Of Inflation Fight Will Be No Cakewalk – BBGhttps://t.co/DmSzDQQSrQ

— LiveSquawk (@LiveSquawk) September 11, 2023

🇺🇸 $7.6 trillion of US government debt will mature in the next year, adding pressure on rates – Yahoo Financehttps://t.co/7D0g8jStLO pic.twitter.com/zYTTHrLEv4

— Christophe Barraud🛢🐳 (@C_Barraud) September 10, 2023

🇺🇸 Student Loan Borrowers Paid Off Billions Before Interest Restart – Bloomberghttps://t.co/1xpfYBaglQ pic.twitter.com/uH4Df3awU8

— Christophe Barraud🛢🐳 (@C_Barraud) September 9, 2023

https://twitter.com/C_Barraud/status/1700791704071143764

🌏 #BOJ | #Yen Rallies on Ueda, #Yuan Rises Off 16-Year Low: Markets Wrap – Bloomberghttps://t.co/SEdztBQ0Muhttps://t.co/V0NuPbWeaa pic.twitter.com/Vj7hhl8yNP

— Christophe Barraud🛢🐳 (@C_Barraud) September 11, 2023

Japanese financial firms rally after comments from BOJ Governor Kazuo Ueda suggesting an end to negative interest rates is possible https://t.co/OcPWCme8LY

— Bloomberg (@business) September 11, 2023

#IMPORTANT#China's financial regulator eased the rules for insurers to buy stocks, lifted residual margin contribution cap to core capital from 35% to 40%, and lowered the risk charge for investments in CSI300 and Star Market stocks and REITs.
A key driver to #stockmarket today.

— CN Wire (@Sino_Market) September 11, 2023

🇨🇳 #China Credit Climbs More Than Forecast as Banks Boost Loans – Bloomberghttps://t.co/l5QDtwkk1K pic.twitter.com/4kvvzYMxr6

— Christophe Barraud🛢🐳 (@C_Barraud) September 11, 2023

⚡#China sold 1.924 million passenger vehicles (+8.5% m/m, +3.2% y/y), and exported 0.349 million vehicles🟠(+7.0% m/m, +34.2% y/y) in August.
Jan-Aug. sales -0.2% y/y to 13.188 mln, export +69.8% y/y/ to 2.455 mln.-CAAM
2/ thread#Vehicles #automobile pic.twitter.com/A51DvsE3XR

— CN Wire (@Sino_Market) September 11, 2023

#China's Small and Medium-Sized Enterprises Development Index rose by 0.1 bps to 89.4, but still below the critical value of 100.
The macroeconomic perception and market index showed a larger increase, while the labor, cost, and capital indexes decreased.
Source: CASMCE 🇨🇳 pic.twitter.com/tcnS8UVU59

— CN Wire (@Sino_Market) September 11, 2023

https://twitter.com/C_Barraud/status/1700789776582902022

Distressed Chinese developer Country Garden is entering the final hours of voting by creditors on its request to extend a group of local bonds https://t.co/le4Oc4FgXc

— Bloomberg (@business) September 11, 2023

🇨🇳 Exclusive: #China's central bank to peruse bulk dollar purchases – sources – Reutershttps://t.co/LMFoPd0XY3

— Christophe Barraud🛢🐳 (@C_Barraud) September 11, 2023

PBoC: #FX Market Is ‘Operating Steadily,’ Is Confident In Maintaining Yuan Stability #CNY #CNHhttps://t.co/OMGnFfMFKG pic.twitter.com/0txtyDgPSy

— LiveSquawk (@LiveSquawk) September 11, 2023

China Analysts See Credit Growth Rebound In August, RRR Cut – CSJhttps://t.co/T01p9rJPcn

— LiveSquawk (@LiveSquawk) September 10, 2023

#CN_Note
PBOC's 7-Day Reverse Repo dues this week (in yuan):
Sept. 11, Mon, 12 bln yuan
Sept. 12, Tue, 14 bln yuan
Sept. 13, Wed, 26 bln yuan
Sept. 14, Thu, 330 bln yuan
Sept. 15, Fri, 363 bln yuan and 400 1-Y MLF
—
Total 745 bln yuan 7-day RRP due.#China #liquidity

— CN Wire (@Sino_Market) September 11, 2023

#BoJ To Conduct Funds-Supplying Op. Against Collateral On Sept. 14https://t.co/HpCNvZiaaS pic.twitter.com/Oyg2U23TQG

— LiveSquawk (@LiveSquawk) September 11, 2023

🇨🇳 Chinese Premier Li G-20 Debut Eclipsed by Xi in State Media – Bloomberghttps://t.co/YO8puHPmaY

— Christophe Barraud🛢🐳 (@C_Barraud) September 10, 2023

Japan PM Says He Plans Cabinet Reshuffle, 'Drastic' Economic Measures – @BusinessTimes https://t.co/2GzTbjvZ54

— LiveSquawk (@LiveSquawk) September 10, 2023

https://twitter.com/EU_Commission/status/1701159441167519780

The European Commission essentially confirms that the region is in stagflation, driven by recession in Germany. https://t.co/QXHnMxBBQU

— Lisa Abramowicz (@lisaabramowicz1) September 11, 2023

German car production still hasn’t reached its pre-pandemic level, making it an important factor behind the ongoing weakness of the industrial sector https://t.co/pC1JhZYcGl via @MonicaRaymunt @WillWilkesNews @nicola_news pic.twitter.com/9daFsR6XwU

— Zoe Schneeweiss (@ZSchneeweiss) September 11, 2023

EU’s Gentiloni plays down stagflation scenario for Europe https://t.co/WTdmemem5V via @weberalexander pic.twitter.com/qlf9zbABPm

— Zoe Schneeweiss (@ZSchneeweiss) September 11, 2023

Norway inflation slows in surprise as the central bank nears its peak rate https://t.co/DQ2dXDYESG via @ottummelas pic.twitter.com/PTrWQqSrM4

— Zoe Schneeweiss (@ZSchneeweiss) September 11, 2023

Swedes signal less optimism on home prices with rates seen at 4% https://t.co/TQuXBo1Rm7 via @CharlesCredit pic.twitter.com/ZtFHzl5oYg

— Zoe Schneeweiss (@ZSchneeweiss) September 11, 2023

UK rents to rise 25% by 2026 as landlords pass on mortgage costs https://t.co/02hmURtjRf via @_DamianShepherd pic.twitter.com/WmXbb4FUOe

— Zoe Schneeweiss (@ZSchneeweiss) September 11, 2023

Bank Of England Braced For Bump In The Road In Fight Against Inflation – FThttps://t.co/ITejuQYDYW$GBPUSD

— LiveSquawk (@LiveSquawk) September 11, 2023

An interesting corollary to this from the recent speech by @Isabel_Schnabel:

She highlights the asymmetry between positive and negative cost-push shocks.

Firms have been more reluctant to pass along recent declines in input costshttps://t.co/WuBnuhjjGA https://t.co/VOBMTw46cK pic.twitter.com/sVF34XXM3P

— Nick Timiraos (@NickTimiraos) September 9, 2023

ECB will remove leveraged finance capital charge for some banks https://t.co/B2QWXuHscx via @StevenArons pic.twitter.com/IWmziKDehL

— Zoe Schneeweiss (@ZSchneeweiss) September 11, 2023

🇪🇺 🇦🇺 European Gas Extends Rally as #Australia #LNG Strikes Continue – Bloomberghttps://t.co/UftiuPkbca

— Christophe Barraud🛢🐳 (@C_Barraud) September 11, 2023

🇮🇹 🇨🇳 Meloni Signals to #China That #Italy Plans to Exit Belt and Road – Bloomberghttps://t.co/XWFb3df1al

— Christophe Barraud🛢🐳 (@C_Barraud) September 10, 2023

Lula urges meeting of EU-Mercosur leaders over trade deal fate https://t.co/HYl2zJWBrz pic.twitter.com/dSAX0DMXkk

— Zoe Schneeweiss (@ZSchneeweiss) September 11, 2023

The far right is advancing in a vulnerable Europe again https://t.co/6VdE7zkwcy via @AndreaDudik @Natalia_Ojewska @mcnienaber pic.twitter.com/hXx6HnCRvq

— Zoe Schneeweiss (@ZSchneeweiss) September 11, 2023

⚠ #WeekAhead Preview: Week 37 (2023) ⚠

🇪🇺 #ECB Meeting
🇺🇸 Possible US Auto Strike
🇪🇺 EC Outlook Update
🇺🇸 US CPI and Other Data
🇨🇳 🌏 Belt and Road Summit
…https://t.co/A2Laf4NaqU

— Christophe Barraud🛢🐳 (@C_Barraud) September 10, 2023