The Congressional Budget Office (CBO) projects U.S. federal debt to grow to an unprecedented 200% of gross domestic product (GDP) over the next 30 years (from the CBO’s February 2023 Budget and Economic Outlook)… Posted onThursday, April 27, 2023Thursday, June 29, 2023AuthorPorter & Co.
Yet, over at least the past 20 years, these CBO projections – based on the prevailing laws at the time of the forecast – have consistently underestimated the future debt burden by a huge margin (from Alpha Omega Wealth Management)… Posted onThursday, April 27, 2023Thursday, June 29, 2023AuthorPorter & Co.
Federal Reserve rate cuts are typically not an immediately bullish catalyst for U.S. stocks. Over the past five recessionary bear markets, stocks have bottomed between 2 months to 20 months after the Fed started cutting rates (from BofA Research via MacroVisor)… Posted onThursday, April 27, 2023Thursday, June 29, 2023AuthorPorter & Co.
Both the post-Great Financial Crisis trend and valuation suggest the bear market has further to run (from Fidelity Investments/Jurrien Timmer via Twitter)… Posted onThursday, April 27, 2023Thursday, June 29, 2023AuthorPorter & Co.
China continues to dramatically reduce its holdings of U.S. Treasury debt (from ANZ Research via The Daily Shot)… Posted onThursday, April 27, 2023Thursday, June 29, 2023AuthorPorter & Co.