Treasury, Tariffs & Delinquency - News from the last week (26May25)
News and my thoughts from last week (26May25)
"Companies are cracking down on remote work to get employees to quit," per BI
It is not wrong to question everything. Take all things with a pinch of salt.
Nearly 75% of all restaurant traffic is now drive-thru or takeout orders, per the National Restaurant Association
On Wednesday, the Treasury Department found that there was tepid demand for an auction for $20 billion worth of bonds, and ended up paying a slightly higher interest rate (or yield) than expected. - NPR
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Legendary investor Jim Rogers exits global equities, hoards cash and precious metals due to mounting debt crisis - DimSum Daily
Michael Burry says: "The biggest financial crisis we've seen since 2008 will hit Wall Street next year, that’s why i sold 99% of my stocks"
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Strong surge in truckload spot rates - Sonar
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Institutional investors remain bearish on US stocks: A net 38% of institutional investors were underweight US equities in early May, the lowest since May 2023, according to BofA. Outside of 2023, this marks the lowest allocation since the lead-up to 2008. Over the last 5 months, this percentage has fallen by ~70 points, the biggest drop on record. The difference between the proportion of investors being overweight Eurozone versus US equities hit a net ~75%, the highest since October 2017. By comparison, 4 months ago, the net percentage was -62 points, the lowest since 2012. The sentiment shift among professional investors has been historic. - X user The Kobeissi Letter
The head of the busiest U.S. port does not expect imports to soar after last week's tariff truce between Washington and Beijing that temporarily lowered the duty to 30% from 145%. - Reuters
JP Morgan Chase, Bank of America and Wells Fargo left the top triple-A rating club over America's burgeoning $36 trillion debt. - Yahoo Finance
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Serious Delinquencies (Unpaid Balances of at least 90 days) are rising across the board, including Mortgages, Home Equity Credit Lines, Auto Loans, Credit Cards, and Student Loans - BarChart
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The more you pay for interest, the less you have for the country - defense, education, infrastructure, healthcare, energy, social security & more. Can America chart a different trajectory?
Treasury Secretary Bessent says, "we are going to grow the GDP faster than the debt growth and that will stabilise the debt-to-GDP." - CNN
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