Top 10 Macro/Financial Charts of the Week – w15 (2023)

🇺🇸 US Small Businesses Face Worst Credit in a Decade After SVB – Bloomberg
*NFIB survey shows a net 9% of firms said loans harder to gethttps://t.co/08wG99qg5o pic.twitter.com/mId7KLVAB3

— Christophe Barraud🛢🐳 (@C_Barraud) April 12, 2023

No deposit outflows for the week ending April 5

Bank deposits rose $60.6 billion from the previous week, mostly offsetting all of the previous week's decline

Deposits rose at the largest banks by $21.1 billion.

They rose at small banks by $23.5 billion. https://t.co/a4gbA1K23O pic.twitter.com/dvP8PFMYnP

— Nick Timiraos (@NickTimiraos) April 14, 2023

🇺🇸 #Fed’s Emergency Loans to Banks Fall for Fourth Straight Week – Bloomberghttps://t.co/kU3CfIigfs pic.twitter.com/rQIijwrF03

— Christophe Barraud🛢🐳 (@C_Barraud) April 14, 2023

A credit crisis does not emerge over night.

Small rebound in bank credit in first week of April, but still a very weak trend

It is unclear whether SVB loan book is back in the data after First Citizen bought it from the FDIC pic.twitter.com/SA1Wod3nDX

— AndreasStenoLarsen (@AndreasSteno) April 14, 2023

The 2023 deficit is EXPLODING!

For the first 3 months of 2023, the deficit was a whopping $679 Billion!

An increase of 134% over Q1 2022 which was $291 Billion

Receipts: $1,023 B vs $1,070 B (-4.4%)
Outlays: $1,702 B vs $1,361 B (+25.1%)

Lower revenue and higher spending! pic.twitter.com/vtPt9EixX5

— TheHappyHawaiian (@ThHappyHawaiian) April 12, 2023

Collapsing money supply alarms economists. US M2 growth plunges to -2.4% YoY in Feb, lowest in history, in a warning of #recession & #deflation. https://t.co/pqluc2Q3U5 pic.twitter.com/fpleQVrhD9

— Holger Zschaepitz (@Schuldensuehner) April 11, 2023

Bank of America credit and debit card spending per household increased by just 0.1% YoY in March pic.twitter.com/6LaQTAXJ0s

— Mike Zaccardi, CFA, CMT (@MikeZaccardi) April 12, 2023

🇺🇸 #Housing #Inflation | #Rents Are Falling Fastest in These 10 US Cities – Bloomberg
*Median asking #rent fell by 0.4% in March to $1,937, the first year-over-year decline in three years ⚠https://t.co/8O2pZXL2eb pic.twitter.com/eGD5s27RZP

— Christophe Barraud🛢🐳 (@C_Barraud) April 15, 2023

Global house prices are falling and that is a recessionary signal, according to Bank of America pic.twitter.com/Zc79IV1HrA

— Markets & Mayhem (@Mayhem4Markets) April 11, 2023

🇨🇳 #China’s Weak #Inflation Fuels Calls for More Policy Stimulus – Bloomberg
*Core CPI is at or below 1% for the 12th straight monthhttps://t.co/ejpN5t4lcj pic.twitter.com/oFUNQE3YeC

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