US consumer credit rose just $8.3 billion in August, well below expectations, while credit card balances declined. My take is that resilient spending doesn't necessarily mean consumers are comfortable taking on more debt. How households finance purchases matters too. #econsky lnkd.in/p/ga8Azs9a
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The policy-induced recession risk Oil prices disproportionately impact other markets via fears central banks will use policy to put the non-oil economy into recession. www.ubs.com/global/en/we... #EconSky
@annpettifor.bsky.social has another excellent essay on how debt is being mismanaged, leading to inflation. I don't think the world is ready for large, NBFI/private credit failures. The GSIBs are heavily regulated but PE/Hedge is not. annpettifor.substack.com/p/the-bond-m...
Bank of Japan sees broadening inflationary pressure - https://www.channelnewsasia.com/business/bank-japan-sees-broadening-inflationary-pressure-6441721
