Bankruptcies surge as the “credit cycle” exacts its pound of flesh.
But now the first feeble reactions as stocks and bonds fall.
July rate hike for Canada is “in the bag.” Bank of England, ECB are scrambling.
Sudden Financial Meltdown is “less likely.”
Home prices are “weighing on affordability and constraining sales.”
“The debt needs to blow up. It needs to go way. There is too much debt, globally.” Wolf Richter on the X22 Report.
Projected losses at the top 34 banks in a “severely adverse scenario.”
QE-Unwind may start in September.
What have central banks wrought?
Oh my, how things have changed since late last year.