Top 10 Macro/Financial Charts of the Week – w20 (2023)

🇺🇸 *US APRIL INDEX OF LEADING ECONOMIC INDICATORS FALLS 0.6% (13th straight drop)
*On a YoY basis, the index fell 8.0%.
*Usually, this level is associated with #recession. pic.twitter.com/qgAiv7dKuh

— Christophe Barraud🛢🐳 (@C_Barraud) May 19, 2023

Philly Fed index below -25 accurately predicted a recession since the 1970s

We're already at -31.3 pic.twitter.com/7iZf8iCEgw

— Game of Trades (@GameofTrades_) May 18, 2023

https://twitter.com/C_Barraud/status/1658680399508144129

$95BN in QT every month means $95BN in deposit destruction (on average) every month until reserve constraint is hit, bank(s) fail, Fed panics injects liquidity, etc. pic.twitter.com/UW8QkgzEdv

— zerohedge (@zerohedge) May 19, 2023

The availability of capital for loans is drying up from small banks pic.twitter.com/mhdfeksYe5

— Markets & Mayhem (@Mayhem4Markets) May 20, 2023

🇺🇸 US Households Show Signs of Stress as New Delinquencies Rise – Bloomberghttps://t.co/idDBuAj1F1 pic.twitter.com/K5B2cokoHL

— Christophe Barraud🛢🐳 (@C_Barraud) May 16, 2023

https://twitter.com/C_Barraud/status/1658356812058357760

Layoff announcements has been rising

Permanent job losses systematically trend higher heading into recessions pic.twitter.com/mvhHtGYgWi

— Game of Trades (@GameofTrades_) May 17, 2023

The latest BofA consumer spending report from a few days ago shows quite the slowdown in consumer card spending, with especially services (which have been growing dramatically) slowing hard. The debate is if this was temporary due to Easter (making y/y comps poor) or not. pic.twitter.com/glSCJNT8Qi

— Wasteland Capital (@ecommerceshares) May 15, 2023

🇺🇸 #SPX | Fewer S&P 500 Companies Discussing “Recession” on Earnings Calls for 3rd Straight Quarter – Factsethttps://t.co/Zv6wwQxMGf pic.twitter.com/2i8bS6GXOe

— Christophe Barraud🛢🐳 (@C_Barraud) May 20, 2023