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Animal Spirits: Fast Food Inflation
Michael Batnick
July 17, 2024
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On today’s show, we discuss:
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US core inflation ex shelter – has now been negative two months in a row (M-o-M %) – see chart.
Last happened in the pandemic – otherwise not since Dec 2014/Jan 2015
V rare
— Longview Economics (@Lvieweconomics)
12:40 PM • Jul 11, 2024
Chicken wing prices, +190% on the 2yr stack, continue to climb after troughing in late 2022
— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi)
10:25 AM • Jul 16, 2024
so: $892 billion in risk-free interest income largely going into the pockets to US households, investors & institutions, pension funds, the Fed, the govt itself ("intragovermental debt"), state & local governments + some of our closest foreign allies
and now at higher yields wow
— talmon joseph smith (@talmonsmith)
1:19 PM • Jul 8, 2024
The "credit card doom" narrative suffered a major blow this morning
Serious credit card delinquencies are down for all three major banks that reported today
— Jack Farley (@JackFarley96)
3:53 PM • Jul 12, 2024
A Cybertruck sold for *$262,500* at auction just a couple months ago…
Here’s how much they’re going for now:
@GeorgeJSaliba
— Car Dealership Guy (@GuyDealership)
6:13 PM • Jun 26, 2024
Bitcoin had 20% drawdown in a month flat. Pretty nasty. I would have been impressed if 90% of aum hung in there but it was over 100% as they saw inflows. The Boomers hung tough, even tougher than I predicted, and kept the all imp YTD net number at +$15b. Hanging tough during… x.com/i/web/status/1…
— Eric Balchunas (@EricBalchunas)
3:43 PM • Jul 9, 2024
the Bitcoin ETFs are in "two steps forward" mode after one step back in June with another +$300m yesterday and $1b for week. YTD net total (the most imp number in all this) has crossed +$16b for first time. Our est for first 12mo was $12-15b so already cleared that w 6mo to go.
— Eric Balchunas (@EricBalchunas)
12:21 PM • Jul 16, 2024
American mortgage holders carry only 48% loan-to-value on their homes, down from 70% a decade ago.
It's really hard to overstate how strong a financial position American homeowners have.
housingwire.com/articles/the-f…
— Mike Simonsen 🐉 (@mikesimonsen)
10:24 PM • Jul 10, 2024
CIO Chart of the Week: As consumers gear up for Prime Day, we are reminded of the increasing efficiency and accessibility with which goods are delivered today. In the last 5 years, the average retailer has cut its “click-to-door” speed by nearly 3 days! Amazingly, Amazon has… x.com/i/web/status/1…
— Rick Rieder (@RickRieder)
5:41 PM • Jul 15, 2024
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