Stagflation—1970s all over again. Nvidia joins the Dow this week. The biggest turmoil is coming. It can all end now.

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Fannie Mae says it suffered losses from commercial mortgage fraud. Agency discloses investigation for first time, warns of risk

Subprime 2.0 commercial edition. Waiting for the inevitable comments saying this a nothingburger and it’s contained and poses no significant risk to the financial system lol. Yada yada yada, cope cope cope.

Commercial delinquency rates for your viewing pleasure

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China consumer slowdown weighs on U.S. earnings again

From Apple to Starbucks, U.S. consumer brands are reporting yet another quarter of China sales declines.

The falling revenue in what’s been a major market for the U.S. companies comes amid tepid consumer spending in China and growing competition from homegrown brands.

Apple last week reported Greater China sales fell slightly to $15.03 billion in the three months ended Sept. 28, down from $15.08 billion in the year-ago period. The figures include sales from mainland China, Hong Kong, Macao and Taiwan.

CEO Tim Cook in an earnings call attributed the “flat” performance to improved foreign exchange and noted Kantar data that said Apple had the two top-selling smartphones in urban China.

The quarterly sales decline reduced Apple’s China revenue share to 15.8% of total net sales, down from 16.9% in the year-ago period.

The iPhone maker’s sales have come under pressure from Huawei’s recovery in the Chinese smartphone market.

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