by Vy Phan | May 12, 2019 | Blog
Greetings, US consumer credit grew by $10.3 Bn in March, at a 3.1% annualized rate, the slowest in nine months. Revolving credit outstanding decreased by $2.18 Bn indicating that consumers ended the quarter more cautious about borrowing. US GDP growth has been...
by Vy Phan | Apr 21, 2019 | Blog
Greetings, Earnings season got underway with bulge-bracket banks reporting this week. While most banks delivered near-record Net Interest Income, the guidance for NII growth fell below expectations. The yield curve is about the flattest it’s been post-crisis and the...
by Vy Phan | Apr 14, 2019 | Blog
Greetings, US Core CPI rose by 2% YoY, slightly below expectations. The price level is now a whopping 5% below the Fed’s intended price path since the financial crisis due to persistently low inflation readings. The Fed minutes showed that members remain flexible and...
by Vy Phan | Apr 7, 2019 | Blog
Greetings, This week, Jamie Dimon published his widely followed Chairman’s Letter. We deep-dive into this special topic in this newsletter. US payrolls rose by 196 k in March and the unemployment rate remained at 3.8%. The data signal that the labor market is steady...
by Vy Phan | Mar 31, 2019 | Blog
Greetings, US 4th quarter GDP growth slowed to 2.2%, as what is shaping up to be the largest expansion in US economic history starts to lose steam. Consumer spending also slowed in January, rising by just 0.1% MoM. The Fed’s preferred inflation gauge, PCE, rose by...
