Thursday 14 June 2018
UK worst ever CA deficit, US borrowing accelerates in Q1
The UKs worst ever CA deficit number I think.
Per the Z1 release, the US created $3.5Tn of credit annualised in Q1, or 18% of GDP, with most of this being the Federal government deficit increase. With the Federal Reserve hiking and QE unwinding, the question is who gets crowded out next and how long before we see some wage inflation...
Ever since Dubai rolled over at the end of 2009 the crashes keep getting closer to the core.
No rebalancing yet then!