Pinned
Robert Burgess
37K posts
Robert Burgess
@BobOnMarkets
Bloomberg Opinion Executive Editor and markets columnist. Former Executive Editor for Global Markets. Opinions are my own; retweets not endorsements. @opinion
- This is one of the most underappreciated stats at the moment: Some 1.543 million homes are currently under construction (single- and multi-family units), the most since 1973
- BLOOMBERG ECONOMICS DROPPING AN INFLATION BOMB: "We now project the February CPI to show an increase of 8.0% year over year and top out in the vicinity of 9% in March or April." But if energy prices continue to rise "CPI could rise above10%."
- Sen. Susan Collins says she is working with a “small group” of fellow Republican senators to ensure witnesses can be called in Trump’s Senate impeachment trial, the Bangor Daily News reports. Democrats need four Republicans to join them in a vote on having witnesses
- Trump Media's accounting firm, whose other clients include Lingerie Fighting Championships Inc., has had a string of regulatory issues, including a 100% deficiency rate on audits reviewed by a US watchdog $DJT bloomberg.com/news/articles/… via @bpolitics
- BREAKING: March consumer credit just set a new record at $52.4 billion. The old record was $37.7 billion. The average pre-Covid was around $15 billion per month. Is this a sign of consumers feeling good and spending or a reflection of high inflation?
- This is one of my favorite charts. It's a chart of monthly retail sales versus the trendline starting from the depths of the Great Recession. We know that stimulus money supercharged retail sales, but seeing it like this is mind blowing
- "The Trumps appear to have managed their accounting in the metaverse, using values from an alternate reality." Once again, @timobrien nails it bloomberg.com/opinion/articl… via @bopinion
- BREAKING: The National Association of Realtors just said that it's Homebuyer Affordability Index dropped to its lowest since 2008. The decline since Feb. 2021 may be the fastest on record
- This is just a mind-blowing graph, showing the average rate on US mortgages outstanding. The effective rate that borrowers are paying on their home loans is 3.60%. No wonder people don't want to move from their current homes and/or feel trapped
- Bloomberg Eco out with a jarring report, saying monthly nonfarm payroll prints likely overstated job growth last year by 730,000
- At 5.20%, the average rate on a 30-year mortgage is now the highest since 2010, according to the Mortgage Bankers Assoc.
- Here's the thing: The main cause for inflation right now is rents, which rose the most since 1991 in August. That is mostly due to a severe lack of housing. Higher rates won't solve that, and may only exacerbate the issue by making new development prohibitively expensiveReplying to @LHSummersIt is highly implausible that inflation will fall to 2 percent without unemployment exceeding 4.5 percent. Yet this is the most pessimistic view among 19 members of the FOMC. Dangerous group think.
- Let me get this straight: The US government said Thursday that 9.14 million more Americans filed for jobless claims in May, and it also said today that 2.51 million jobs were added in May? This doesn't pass the smell test #jobs #JobsReport #markets
