Current levels of tight lending standards by banks has systematically led to market drawdowns

This time is not different pic.twitter.com/f3s4qIMZMl

— Game of Trades (@GameofTrades_) May 7, 2023

🇺🇸 Private equity's looming bankruptcy boom – Axioshttps://t.co/fwz4RzfbCV

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

🇺🇸 The ongoing tightening of credit conditions suggests that C&I Loan growth should turn negative soon.https://t.co/nRBa9jdfhQ pic.twitter.com/Snid5j1T48

— Christophe Barraud🛢🐳 (@C_Barraud) May 8, 2023

🇺🇸 Credit conditions for credit card loans kept deteriorating in 1Q23.https://t.co/DK7l48M0m4 pic.twitter.com/2WBcA8hjgr

— Christophe Barraud🛢🐳 (@C_Barraud) May 8, 2023

The Loan Officer Survey was released yesterday and the demand for credit is basically gone..

Morning news -> https://t.co/xrEVkezFLx pic.twitter.com/1t4hmLqGgv

— AndreasStenoLarsen (@AndreasSteno) May 9, 2023

US Lenders Warned That Commercial Property Is ‘Next Shoe To Drop’ – FThttps://t.co/NQ3tE4Ap5y

— LiveSquawk (@LiveSquawk) May 9, 2023

The latest Fed senior loan officer survey showed a broad-based tightening in loan standards *before* the failure of Silicon Valley Bank became modestly worse after the bank's collapse

67% of banks reported tighter standards for CRE, up from 58% in Janhttps://t.co/Gh2kORjlRm pic.twitter.com/iSVXj92Fbm

— Nick Timiraos (@NickTimiraos) May 8, 2023

#SLOOS has a pretty good track record (100% historically) for determining soft and hard landings after a Fed tightening cycle. #macro pic.twitter.com/P4d1sRQIW4

— Kantro (@MichaelKantro) May 8, 2023

C&I loan demand plummets to 2009 financial crisis levels; at the same time, demand for credit card, auto and mortgage loans staged a modest bounce.

In other words, no growth for corporations as consumer lever up just in time for record interest rates pic.twitter.com/WoebvcZJNo

— zerohedge (@zerohedge) May 8, 2023

Interest rate on credit cards has now surpassed a staggering 20%

This is the highest level ever seen since 1995 pic.twitter.com/sNxLLIzT5a

— Game of Trades (@GameofTrades_) May 8, 2023

🇺🇸 Short-Term #Inflation Expectations Decline; Perceived and Expected Credit Conditions Mostly Unchanged – FRBNYhttps://t.co/pUlbFsTIur. pic.twitter.com/PCS54sk2qK

— Christophe Barraud🛢🐳 (@C_Barraud) May 8, 2023

Yes friends, home prices are inching up on tight inventory – despite affordability challenges.

Though 2 of 3 Altos price measures are ⬇️ YoY, the weekly is improving.

Inventory actually declined this week to 419k single family homes.

The @AltosResearch video has details

1/7 pic.twitter.com/Z53QVwW0GG

— Mike Simonsen 🐉 (@mikesimonsen) May 8, 2023

Housing Market in San Francisco Is Turning as Home Prices Rise – Bloomberg https://t.co/CXZngZVKGB

— US Real Estate Market News (@usaregtweets) May 9, 2023

🇺🇸 #Fed Flags Concerns Over Credit Tightening, Financial Stress – Bloomberghttps://t.co/4iLxICX1qN

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

“Powell’s Bet Against Recession Looks Good — Minus the Credit Crunch and a DC Standoff” … if you’re not laughing, you’re crying. https://t.co/AUvLvh3aI5

— Claudia Sahm (@Claudia_Sahm) May 8, 2023

What’s required to motivate politicians to break the current impasse on the US debt ceiling? A financial-market shock, says Daleep Singh, a former Biden administration economic adviser https://t.co/CymQrj2Xrn

— Bloomberg Economics (@economics) May 9, 2023

🇺🇸 #Fed’s Goolsbee Warns Debt-Limit Showdown Is Clouding Economic Outlook – Bloomberghttps://t.co/joWlvxkj9W

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

🇺🇸 Yellen Blasts Draconian Republican Cuts, Pushes Debt-Limit Hike – Bloomberghttps://t.co/uacxHA9Wkg

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

The 36% rating for #Powell is the lowest Gallup has measured for him during his six years as #Fed chair. It is also the lowest reading Gallup has had for any prior Fed chair.-Gallup
Source: https://t.co/HC4sBNdxlU pic.twitter.com/v8L1N7cHBX

— CN Wire (@Sino_Market) May 9, 2023

A New York judge barred Donald Trump from disseminating evidence from his criminal case on social media https://t.co/qFZt46RL44

— Bloomberg (@business) May 8, 2023

Biden wants airlines to give you meals, miles and cash for delayed flights https://t.co/eCgLYmirLX

— Bloomberg (@business) May 9, 2023

Prime Minister Justin Trudeau’s government has expelled a Chinese envoy from Canada, a move that could prompt economic or diplomatic backlash from President Xi Jinping. https://t.co/73wAeaJV9L

— The Japan Times (@japantimes) May 9, 2023

China’s Speculative Stock Frenzy Spreads To Brokers And Media – BBGhttps://t.co/jltcq5wIJP

— LiveSquawk (@LiveSquawk) May 9, 2023

🇨🇳 #China Export Growth Slows, Imports Plunge as Recovery Wane – Bloomberghttps://t.co/av0jNRX0PV pic.twitter.com/hoRCzxs9NQ

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

⚡NBS: CHINA 2022 NOMINAL EMPLOYER ANNUAL WAGES GREW 5.0% Y/Y TO 92,492 YUAN ($13,358).
🔸PRIVATE SECTOR +3.7% TO 65,237 YUAN ($9,422), PREV. +8.9%.
🔸NONPRIVATE SECTOR +6.7% TO 114,029 YUAN ($16,469). PREV. +9.7%.
🇨🇳#China #wages #EconTwitter pic.twitter.com/TtXXFWB7yb

— CN Wire (@Sino_Market) May 9, 2023

Australia Q1 Retail Sales Volumes Fall For A Second Straight Quarter – RTRShttps://t.co/DZhgNBfSTp

— LiveSquawk (@LiveSquawk) May 9, 2023

Taiwan’s exports fell in April at a slower pace than the month before, in a sign that the deep global slump in demand for electronics may be bottoming out https://t.co/djZtE1foKB

— Bloomberg (@business) May 8, 2023

Japan Real Wages Drop For 12th Straight Month, As BoJ, Kishida Scrutinize Pay – BBGhttps://t.co/e85qyTQo9v

— LiveSquawk (@LiveSquawk) May 9, 2023

Bank of Japan Governor Kazuo Ueda says he intends to scrap the central bank’s yield curve control program once sustainable inflation target comes into sight https://t.co/qOcUQaVPlY

— Bloomberg (@business) May 9, 2023

Australia is headed for its first budget surplus since 2008 as windfall tax revenue and elevated commodity export prices combine to swell the government’s coffers https://t.co/UpY4wMYogH

— Bloomberg (@business) May 8, 2023

🇨🇳 #China | The macro leverage ratio — or total debt as a percentage of gross domestic product — soared to 279.7% in the first quarter, according to central bank and statistics bureau data compiled by Bloomberg. *That was an increase of 7.7 percentage points from the previous… pic.twitter.com/t9I7DyrmvC

— Christophe Barraud🛢🐳 (@C_Barraud) May 8, 2023

World Bank's outgoing chief David Malpass says China remains at an impasse when it comes to restructuring debts owed to it by developing countries https://t.co/4zndgjbaSD

— Bloomberg Markets (@markets) May 9, 2023

Chinese Foreign Minister Qin Gang and US Ambassador Nicholas Burns meeting signals Beijing may soon allow more senior-level discussions after rebuffing requests from the Biden administration https://t.co/Wfpg4zWimE

— Bloomberg (@business) May 8, 2023

China postpones talks with German finance chief at short notice https://t.co/4afoOBpH7s via @KowalczeKamil @ArneDelfs pic.twitter.com/U6RvjAzujp

— Zoe Schneeweiss (@ZSchneeweiss) May 8, 2023

Germany’s industrial plunge revives winter recession fears – Bloomberg https://t.co/8Cm1AqwgMF

— The Edge Malaysia (@theedgemalaysia) May 8, 2023

Swedish Housing Market Extends Rebound In Realtor Data – BBG https://t.co/1od1deA9FJ

— LiveSquawk (@LiveSquawk) May 8, 2023

Halifax says UK house prices fell for the first time this year https://t.co/KI7D9MZLCA via @ElinaGanatra pic.twitter.com/d9rtBIC2py

— Zoe Schneeweiss (@ZSchneeweiss) May 9, 2023

UK mortgage costs risk heading higher again with BOE rate hikes https://t.co/AxNOAv6fpz via @tomelleryrees pic.twitter.com/n5BFDhu1QT

— Zoe Schneeweiss (@ZSchneeweiss) May 9, 2023

🇪🇺 #ECB’s Lane Says There’s Still Momentum in Euro-Area #Inflation – Bloomberghttps://t.co/LblqzmoMSY

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

ECB rate increases may not be finished in July, Kazaks warns https://t.co/7mQtHekEx8 via @aaroneglitis pic.twitter.com/FT0FbFPNoH

— Zoe Schneeweiss (@ZSchneeweiss) May 9, 2023

Bank Of England Set To Raise Rates To Highest Level Since 2008 – FT https://t.co/TvpzKMPOpO

— LiveSquawk (@LiveSquawk) May 9, 2023

Germany’s off-budget funds hurt financial its credibility, OECD says https://t.co/LuBfOx9pRm via @KowalczeKamil pic.twitter.com/k3uB7Trgfm

— Zoe Schneeweiss (@ZSchneeweiss) May 8, 2023

Spain pledges aid to help younger buyers get on the housing ladder https://t.co/JucFR3HacU via @rorihuela pic.twitter.com/jxWIDVRd8Q

— Zoe Schneeweiss (@ZSchneeweiss) May 8, 2023

Natural gas purchases needed to refill Europe’s storage sites are slower than usual for this time of year despite a recent price drop with some buyers betting on a further slump https://t.co/Xpt4Shnci9

— Bloomberg Markets (@markets) May 8, 2023

Sunak faces calls to boost housing supply after election loss https://t.co/YnjNhVmIPH via @kitty_donaldson @alexwickham pic.twitter.com/6WxdEKcRf7

— Zoe Schneeweiss (@ZSchneeweiss) May 9, 2023

⚠ #WeekAhead: Week 19 (2023) ⚠

🇺🇸 U.S. CPI
🇺🇸 🇨🇦 U.S. and #Canada Senior Loan Officer Opinion Surveys
🇺🇸 Debt Ceiling Discussions
🇬🇧 #BOE Meeting
🇨🇳 #China CPI & PPI
…https://t.co/DWfeT1Wd2W

— Christophe Barraud🛢🐳 (@C_Barraud) May 8, 2023

Inside the battle for chips that will power artificial intelligence https://t.co/SIDQXISOsI via @tracyalloway @TheStalwart pic.twitter.com/LwNZEOz25R

— Zoe Schneeweiss (@ZSchneeweiss) May 8, 2023