Analyzing the intersection of consumer spending and financial plumbing
WHAT WE DO:
• Analyze all manner of consumer companies, including their historical volume and price trends
• Analyze bank lending (and deposit) data and how it affects the aforementioned consumer companies
• Analyze Fed/central bank data given their importance to the banking system and economy
• Analyze broker-dealer data given their importance as intermediaries in the Treasury market
FEATURED RESEARCH
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The Shifting Central Bank Sands
02/09/25
Since the Great Financial Crisis (GFC) in 2007-2009, the playbook for many developed economy central banks has been consistent…
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The Fed Continues to Focus on Risks Associated With NDFI Lending
02/06/25
The Federal Reserve (Fed) yesterday released the scenarios for its 2025 stress test, which evaluates the resilience of large banks by estimating losses, net revenue and capital levels…
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Bank Lending to the Real Economy Has Stalled
10/27/24
I’ve written extensively about the U.S. consumer economy, and occasionally about the contribution of bank lending to consumer spending and economic activity more broadly. The Federal Reserve (Fed)…