We can also note that loan demand has weakened much more sharply than expected too, confirming the funk. In the long term it is probably a good thing that debt levels aren't rising as fast, but this recent shift is caused by stuttering activity levels. In Canada, their quarterly senior loan officer survey showed mortgage lending conditions tightened sharply in the March quarter. The price of gold will start today at US$2011/oz, unchanged from Saturday but down -US$20 from this time Friday. That means the TWI-5 is now at 70.1 and -80 bps lower than this time Friday although unchanged from this time Saturday.

Source: Stuff May 15, 2023 01:24 UTC