Charts That Matter- 6th March

US High Yield credit spreads at their tightest levels in over 3 months, 152 bps lower than Dec 27 levels. Credit always leads equities

The US consumer is a risk factor for the global economy. The US consumer accounts for 17% of global GDP and is more important than China. Deutsche Bank

With so few investors buying America’s $5 trillion post-Christmas stock rally, Wall Street is starting to wonder whether apathy could kill the melt-up. Wall Street strategists question sustainability of 2019 gains. https://www.bloomberg.com/news/articles/2019-03-05/goldman-sees-crisis-echo-in-big-stock-rally-bereft-of-buyers …

U.S. Credit Card Debt Closed 2018 at a Record $870 Billion, add 12 million account holders go delinquent in Q4. https://www.bloomberg.com/news/articles/2019-03-05/u-s-credit-card-debt-closed-2018-at-a-record-870-billion …

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