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You might have missed it, but April is “Financial Literacy Month” in the US. On April 1 (yes, really!) the White House released the following statement from Donald Trump:
During this National Financial Literacy Month, I urge families, communities, schools, and institutions to commit to bolstering their financial knowledge. There are amazing resources available to you and your family through the Department of the Treasury’s website that will assist you in making sound financial decisions. Together, we can all protect each American’s right to economic freedom, securing the promise of prosperity for generations to come.
Kudos to the White House for all all-time classic April Fool’s joke, and H/T Richard Metcalf for the spot. Anyway, here’s a selection of charts pilfered from various sell-side research notes that show how the US government’s sound financial decisions are securing the promise of prosperity for generations to come.
Tariffs up (zoomable image):
Stocks down (zoomable image):
Credit also clobbered (zoomable image):
Bigly moves pretty much everywhere (zoomable image):
Yet 10-year Treasury yield only down by 25 bps (zoomable image):
First-quarter earnings expectations fading (zoomable image):
Equity volatility up (zoomable image):
Uncertainty up (zoomable image):
Inflationary pressures climbing (zoomable version):
Unemployment expectations rising (zoomable version):
Business confidence down (zoomable image):
Bankruptcies already rising (zoomable image):
The GDP impact of tariffs (zoomable image):
Lots of rate cuts getting priced in (zoomable image):
But recession expectations still climbing (zoomable image):
Further reading:
— Global stocks tumble as Donald Trump offers no respite from tariffs (FT)
Read the full article here
