Market Morsel: Cash And Carry

By |2024-04-09T09:11:38-04:00April 9th, 2024|Alhambra Research, Bonds, Economy, Markets|

Total bank credit (blue line) vs Nominal GDP (red line) and Real GDP (green line).  A lot of "analysts" were saying that the big drop in the year over year change in credit was pointing to a recession. But that isn't how this works. GDP actually leads credit - economic growth increases the demand for credit - so the rise [...]