Credit Bubble Bulletin
Presented by Doug Noland since 2012
Credit Bubble Daily
[CNBC] S&P 500 is little changed after index ends four-day losing run: Live updates
[Yahoo/Bloomberg] Yen Weakens Despite BOJ Hiking Rate to Highest Level Since 1995
[Yahoo/Bloomberg] Oil Heads for Second Weekly Decline as Glut Concerns Dominate
[CNBC] NY Fed President Williams says some ‘technical factors’ distorted November’s CPI reading downward
[CNBC] Trust these numbers? Economists see a lot of flaws in delayed CPI report showing downward inflation
[CNN] The big wrinkle in the multitrillion-dollar AI buildout
[Yahoo/Reuters] Pulte and other Trump loyalists at mortgage regulator clash with Fannie and Freddie staffers
[CNBC] Bank of Japan raises benchmark rates to highest in 30 years, lifting 10-year JGB yield past 2%
[Yahoo/Reuters] Big central banks signal rate-cut cycle is ending
[AP] Trump’s blockade of sanctioned Venezuelan oil raises new questions about legality
[AP] Putin tells his annual news conference that the Kremlin’s military goals will be achieved in Ukraine
[Bloomberg] Bank of Japan Hikes Benchmark Rate to Highest Level Since 1995
[Bloomberg] Citadel Heads for Lowest Gain Since 2018 as Gas Profits Fall
[Bloomberg] France Is in Danger if 2026 Deficit Not Contained, Villeroy Says
[Bloomberg] NATO Lacks Resilience to Fight a Long War, Naval Chief Warns
[Bloomberg] Ukraine Hits Shadow Fleet Tanker in Mediterranean for First Time
[Bloomberg] China Points to Risk of Clash With US After Taiwan Arms Package
[NYT] ‘A Singularly Turbulent Time’: Deeper Uncertainty in Store for Global Economy
[NYT] Japan Raises Interest Rates to Highest Level in 30 Years
[WSJ] Congress Punts Fight Over ACA Subsidies Into January, Leaving Consumers in Limbo
[FT] Japan raises interest rates to highest level in 30 years
[FT] Inflation risk is still under-appreciated by investors
[FT] ECB warns banks against excessive use of risk-transfer deals
[FT] France will not agree budget by year-end, says prime minister
[FT] Putin claims Ukraine is ‘on the retreat’
[CNBC] S&P 500 is little changed after index ends four-day losing run: Live updates
[Yahoo/Bloomberg] Yen Weakens Despite BOJ Hiking Rate to Highest Level Since 1995
[Yahoo/Bloomberg] Oil Heads for Second Weekly Decline as Glut Concerns Dominate
[CNBC] NY Fed President Williams says some ‘technical factors’ distorted November’s CPI reading downward
[CNBC] Trust these numbers? Economists see a lot of flaws in delayed CPI report showing downward inflation
[CNN] The big wrinkle in the multitrillion-dollar AI buildout
[Yahoo/Reuters] Pulte and other Trump loyalists at mortgage regulator clash with Fannie and Freddie staffers
[CNBC] Bank of Japan raises benchmark rates to highest in 30 years, lifting 10-year JGB yield past 2%
[Yahoo/Reuters] Big central banks signal rate-cut cycle is ending
[AP] Trump’s blockade of sanctioned Venezuelan oil raises new questions about legality
[AP] Putin tells his annual news conference that the Kremlin’s military goals will be achieved in Ukraine
[Bloomberg] Bank of Japan Hikes Benchmark Rate to Highest Level Since 1995
[Bloomberg] Citadel Heads for Lowest Gain Since 2018 as Gas Profits Fall
[Bloomberg] France Is in Danger if 2026 Deficit Not Contained, Villeroy Says
[Bloomberg] NATO Lacks Resilience to Fight a Long War, Naval Chief Warns
[Bloomberg] Ukraine Hits Shadow Fleet Tanker in Mediterranean for First Time
[Bloomberg] China Points to Risk of Clash With US After Taiwan Arms Package
[NYT] ‘A Singularly Turbulent Time’: Deeper Uncertainty in Store for Global Economy
[NYT] Japan Raises Interest Rates to Highest Level in 30 Years
[WSJ] Congress Punts Fight Over ACA Subsidies Into January, Leaving Consumers in Limbo
[FT] Japan raises interest rates to highest level in 30 years
[FT] Inflation risk is still under-appreciated by investors
[FT] ECB warns banks against excessive use of risk-transfer deals
[FT] France will not agree budget by year-end, says prime minister
[FT] Putin claims Ukraine is ‘on the retreat’
[CNBC] Stocks jump after lighter-than-expected CPI, strong Micron earnings: Live updates
[CNBC] 10-year Treasury yield slides after much lighter November inflation than expected
[CNBC] November consumer prices rose at a 2.7% annual rate, lower than expected, delayed data shows
[AP] US jobless claim applications fell by 13,000 last week as layoffs remain low
[Axios] Why Oracle keeps sparking AI-bubble fears
[Yahoo/Bloomberg] JPMorgan Quants Warn of ‘Extreme Crowding’ in Speculative Stocks
[Yahoo Finance] AI data centers are eating the memory industry, and it could hurt your wallet
[Axios] How to monitor tech debt that could fuel an AI bubble
[Axios] America's data center growth hot spots, mapped
[AP] Trump gives a partisan prime-time address insisting the economy is stronger than many voters feel
[Yahoo/Bloomberg] Bessent’s 2025 Saw Powell and Argentina Rescues, Deficit Angst
[Yahoo/Bloomberg] South Korea Is Pulling Out All Stops to Try to Prop Up Won
[AP] US announces massive package of arms sales to Taiwan valued at more than $10 billion, angering China
[Politico] Putin calls European leaders ‘little pigs’
[Bloomberg] Fannie, Freddie IPO Under Trump Far From a Sure Thing, BI Report Says
[Bloomberg] Private Credit’s Secret Weapon for Deals Is Buying Up Bank Loans
[Bloomberg] Russia Warns of Claims Against European Banks Over Frozen Assets
[NYT] Why the Affordability Crisis Is Likely to Stalk Trump
[WSJ] Gold Increasingly Seen as Cornerstone Asset
[WSJ] Bank of England Cuts Rates While ECB Holds Steady
[WSJ] The $8 Billion Black Market for Venezuelan Oil Is Suddenly Closing Down
[WSJ] The Trump Family Business Empire Is Growing. We Mapped Out 268 Pieces of It.
[FT] US approves $11bn arms sale to Taiwan
[FT] Bank of England cuts rates by quarter point to 3.75%
[CNBC] Stocks rise after shaky session on mixed U.S. economic data: Live updates
[AP] Asian shares are mixed and oil prices jump as Trump orders a blockade of oil tankers to Venezuela
[Reuters] Oil rises over 1% as Trump's Venezuela blockade stokes uncertainty
[Axios] Trump orders oil tankers blockade in Venezuela, labels it a "terrorist" regime
[CNBC] Mortgage rates move higher after the Fed rate cut, causing loan demand to drop
[Yahoo/Reuters] Fed's Waller says monetary policy still in restrictive territory, Fed has room to cut
[Axios] Confidence in the economy hits four-year high for investors and executives
[CNBC] Tricolor executives charged with ‘systematic fraud’ after subprime auto lender roiled banking sector
[AP] Trump expands travel ban and restrictions to include an additional 20 countries
[Axios] Robinhood bets on the future of retail investing: betting
[Bloomberg] Oracle at Center of Tech’s $500 Billion AI-Fueled Rent Spree
[Bloomberg] K-Shaped US Economy Leaves Small Businesses Playing Catch-Up
[Bloomberg] Look around: Bubbles are everywhere.
[Bloomberg] A Record $184 Billion Bond Binge Stuns Latin America Bankers
[Bloomberg] US to Dismantle Key Research Agency, Advancing Attack on Climate
[Bloomberg] Vanke to Meet With Insurers, Banks in Shenzhen as Crisis Deepens
[NYT] Heating Costs Expected to Rise 9.2% This Winter
[NYT] Next Fed Chair in ‘No-Win Scenario’ as Selection Process Draws to a Close
[NYT] What Trump’s Embrace of Crypto Has Unleashed
[NYT] Trump Dangles Cash Payments to Buoy Voters’ Views of the Economy
[NYT] Does China Have a Robot Bubble?
[WSJ] Trump Orders Blockade of Sanctioned Oil Tankers in and out of Venezuela
[WSJ] Bank of Japan on Cusp of Raising Rates to Highest in 30 Years
[WSJ] For Ukraine’s Allies in Europe, a Bad Deal With Russia Is Worse Than No Deal
[FT] Oracle’s $10bn Michigan data centre in limbo after Blue Owl funding talks stall
[FT] JPMorgan pulls $350bn from Federal Reserve to buy up Treasuries
[FT] Inside Mark Zuckerberg’s turbulent bet on AI
[FT] Vladimir Putin predicts European ‘swine’ backing Ukraine will lose power
[FT] ‘World’s refrigerator’ runs hot and Arctic melt turns rivers orange
[CNBC] Stocks are flat after delayed job numbers show mixed picture: Live updates
[CNBC] Daily Open: Debt worries continue to weigh on AI-related stocks
[CNBC] Payrolls rose by 64,000 in November after falling by 105,000 in October, delayed jobs numbers show
[Yahoo/Reuters] US Treasury's Bessent: Kevin Warsh and Kevin Hassett both qualified for Fed
[Yahoo/Bloomberg] Biggest US Power Auction Set to Deepen Affordability Concerns
[Yahoo/Telegraph] World ‘blind’ to risks in booming $250tn shadow bank market
[AP] Zelenskyy says proposals to end the war in Ukraine could be presented to Russia within days
[Axios] Ukraine and U.S. divided over territory after intense negotiations
[Axios] China on track for massive population decline
[Bloomberg] Shadow Banks Cross $250 Trillion Mark as Watchdog Warns on Data
[Bloomberg] Oracle's $248 Billion Rent is Another AI ‘Bombshell’
[Bloomberg] US Retail Sales Stagnated on Drop in Motor Vehicle Purchases
[Bloomberg] Bessent Sees One or Two More Fed Chair Interviews This Week
[Bloomberg] The Biggest Leverage Risk Isn’t in the Market
[Bloomberg] LA Fires Push Insurers’ 2025 Disaster Losses to $107 Billion
[Bloomberg] Vanke Shares Set for Record Quarterly Drop as Debt Angst Builds
[NYT] Senators Investigate Role of A.I. Data Centers in Rising Electricity Costs
[NYT] Jobs Data Is Finally Back. But the Economic Picture Is Still Blurry.
[NYT] Ford Will Take $19.5 Billion Hit as It Rolls Back E.V. Plans
[WSJ] CoreWeave’s Staggering Fall From Market Grace Highlights AI Bubble Fears
[WSJ] After a Generation of Peace, Europe Tells Its People to Prepare for War
[FT] Banks’ asset growth outstripped by non-traditional institutions’
[FT] Mexico’s tariffs on China show the rise of Trump’s trade template
[FT] The ‘shockingly small’ circle shaping Donald Trump’s diplomatic efforts
[CNBC] Stocks rise as big week of economic data kicks off: Live updates
[Yahoo/Bloomberg] Gold Climbs Near Fresh Record With Focus Turning to Jobs Data
[CNBC] Copper could hit ‘stratospheric new highs’ as hoarding of the metal in U.S. continues
[Yahoo/Bloomberg] Bond-Market Debate Over Fed’s Path in 2026 Is About to Heat Up
[AP] US tariffs are having an uneven effect on holiday prices and purchases
[CNBC] High cost of goods is causing consumers to spend less for the holidays, CNBC survey finds
[Yahoo/Reuters] China's factory output, retail sales weaken in November
[Reuters] Ukraine strikes Russian oil infrastructure in Caspian Sea for third time, source says
[Yahoo/WSJ] China Vanke Shares Fall After Bondholders Reject Debt Extension Proposal
[Bloomberg] Fannie, Freddie Quietly Add Billions to Mortgage-Bond Portfolios
[Bloomberg] The Bond Market Will Not Be Fooled
[Bloomberg] BOJ Signals Rate Hike Bar Is Cleared With Wage Momentum Intact
[Bloomberg] Electricity Is Now Holding Back Growth Across the Global Economy
[Bloomberg] Xi Warns Officials Against Chasing ‘Reckless’ Expansion in GDP
[Bloomberg] AI Is Getting Dangerously Good at Political Persuasion
[Bloomberg] China Shadow Bank’s Missed Payments Show Growing Property Stress
[WSJ] How a Push for More IPOs Fueled a Wave of Scams
[WSJ] China’s Economy Is Deteriorating on Several Fronts
[FT] Trump assault opens EU rift as leaders split on US strategy
[FT] China investment falls for third straight month in blow to economy
Q4 Review - 2023 Preview
Thursday, January 19, 2023 – 4:00pm Eastern / 2:00pm Mountain
David McAlvany
Doug Noland
Credit Bubble Weekly
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