Tuesday, 14 January 2014

A few charts that caught my eye today

Four charts that caught my eye today.

Sometimes I wonder how much we really did learn from the last five or six years.  This morning, under the unusual headline of 'Hungry investors turn to bonds backed by NY homeless shelter' on the front page of the Financial Times, pro-forma underwriting and interest-only lending ARE BACK

Yes, something approach confidence is returning.  Societe Generale are now brave enough to talk about household debt being 'in a definite expansion mode'
But what is all this factored upon?  QE of course.  Inflation in both the monetary base and Central Bank rhetoric...

...combined with 'confidence-building' asset price inflation

It is just a shame that the average consumer continues to struggle to see any real wage gains.  Real and sustained shifts in confidence are a funny thing. 

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