The global credit correction has arrived. Or as Bill Paxton said in Twister, “It’s already here!”
The question is, how far into the economy will it extend?
US Gross Domestic Income YoY is still growing strong at 4.5%, but shrinking really fast as Fed monetary stimulypto wears off.
S&P Global Ratings’ Credit Cycle Indicator – forward-looking measure of credit conditions—shows that the momentum of the correction continues.
Source: S&P Global Ratings
Speaking of cycles … I give you the ultimate cycle killer, the US Federal Reserve.
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