The Savings Rate in the US has moved down to 2.3%, the 2nd lowest level on record with data going back to 1959 (lowest was 2.1% in July 2005).
— Charlie Bilello (@charliebilello) December 2, 2022
It may be the most predictable recession in history. Economists expect the US economy to contract since at least April, shortly after the Federal Reserve began raising interest rates. But a bit like Judo, she has yet to appear. Trust the cash cushion to American consumers and businesses built during the pandemic. But that will eventually go away, and then the economy will collapse.
While there has been little wider fallout from this week’s surge in redemption requests at an unlisted Blackstone real estate income trust (REIT), it is being read by some as a warning sign.
Investors have withdrawn $316 billion from credit funds this year, unwinding all of the previous year’s inflows, BofA Global Research said in a note on Friday.
Global GDP growth rates