The Empire Strikes Out! NY General Business Conditions Crashes By -20.9 In March As Industrial Production Slows To -0.23% YoY In February

#bubble, #inflation, #wine, Agency MBS, Bank of England, Bank of Japan, Banking, CMBS, CRE, Credit, ECB, Economy, Existing Home Sales, Fed, France, Freddie Mac, GDP, Germany, Gold, Housing, Inflation, Jobs, Mortgage, New Home Sales, Oil, Pension, Powell, REITs, Retail, Silver, SPX, Stocks, Treasuries, Treasury, Uncategorized, Wages, Yellen, Yield Curve 1 Minute

The Darth Vader theme seems appropriate for President Magoo’s economic malfeasance. Except that Mr. Magoo is a nice person, Biden is a mean-spirited and corrupt.

The NY Fed’s Empire State Manufacturing crashed and burned in March. NYFRB’s general business conditions index plunged 18.5pts in March to -20.9. A reading below zero indicates contraction, and the measure was weaker than all estimates in a Bloomberg survey of economists. Hey, I though illegal immigrantion was good for the economy!!!

Industrial production fell tp -0.23 YoY in February, not a stellar sign for the economy.

And how about the yield curve?

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