Hedge funds are continuing to bet against short-dated Treasuries, extending their record selling streak as wagers mount that the Federal Reserve’s tightening cycle is far from over. t.co/98PnJfM6c7 pic.twitter.com/fFQVUQb7Hp
— Mo Hossain (@MoHossain) June 12, 2023
🚩 Deutsche Bank expects an imminent default wave, with a peak in the fourth quarter of 2024.
It forecasts peak default rates on U.S. loans will near an all-time high at 11.3%.
Full Story → t.co/pc7uGhIaK4 pic.twitter.com/w27nr1UhJt
— PiQ (@PriapusIQ) June 12, 2023
The transitionary period of "shrinkflation" is particularly awkward when old and new sizes are both on the shelves.
Same price of course.#shrinkflation pic.twitter.com/RIWC7OWNUB
— Wall Street Silver (@WallStreetSilv) June 12, 2023
World Bank: Global Economic Growth Expected to Slow to 2008 Levels
Most people in the mainstream concede that the economy is heading for a recession, but the consensus seems to be that downturn will be short and shallow. Projections by the World Bank undercut that optimism.
According to the World Bank, global growth in 2023 will slow to the lowest level since the 2008 financial crisis. In other words, the World Bank is predicting the beginning of Great Recession 2.0.
You might recall that the Great Recession was neither short nor shallow. In fact, World Bank Group chief economist and senior vice president Indermit Gill said, “The world economy is in a precarious position.”
According to the World Bank’s new Global Economic Prospects report, global growth is projected to decelerate to 2.1% this year, falling from 3.1% in 2022. The bank forecasts a significant slowdown during the last half of this year.
That would match the global growth rate during the 2008 financial crisis. According to the World Bank, higher interest rates, inflation, and more restrictive credit conditions will drive the economic downturn.