Mark Rossano

U.S. Credit Card Accounts delinquent by 90+ days have jumped to 13.1%, the highest level in 15 years and closing in on the highest level in history 🚨🚨🚨

*US 30-YEAR TREASURY YIELD RISES TO 5.177%, HIGHEST SINCE 2007

BREAKING 🚨: Japan Japan's 40-Year Yield hits 4.41%, the highest level in history 📈🇯🇵

30Y high yield 5.046%, WI 5.041%, 0.5bps tail, 2nd in a row.

🚨US Producer Prices are EXPLODING HIGHER: US Producer Price Index rose +6.0% YoY in April, the highest reading since January 2023 and crushing the +4.9% consensus estimate. On a monthly basis, prices jumped +1.4% in April, nearly 3 times the +0.5% consensus, while Core PPI surged +1.0% MoM against a consensus of just +0.3%. Core PPI inflation is now running at +5.2% annually, also well above the +4.3% consensus, with both headline and core inflation at 3-year highs. When stripping out food, energy, and trade, producer prices posted the largest annual increase in 5 years, suggesting higher consumer inflation is still coming through the pipeline. As a result, US 30-year Treasury yield has risen to 5.042%, just below its 19-year high, as markets rapidly reprice the probability of Fed rate hikes. The bond market is now pricing in a world where inflation does not go away.

When you strip out food, energy and trade, US producer prices surged the most in April in five years on a year over year basis.

BREAKING: April PPI Inflation surges to 6.0%, well above expectations of 4.9% and the highest level since January 2023. Core PPI Inflation rose to 5.2%, above expectations of 4.3%. Both CPI and PPI Inflation are now officially at 3+ year highs. Odds of rate HIKES are rising.

BREAKING 🚨: Japan Japan's 10-Year Yield jumps above 2.59%, its highest level this century 📈🇯🇵

In the U.S 🇺🇸 🇺🇸 🇺🇸 forget inflation or the price of gasoline ⛽️ , ... how about electricity ?