Van Hesser's 3 Things in Credit - A KBRA Podcast

This week, our 3 Things are:

1. Pain. It continues to guide the Fed.
2. Walmart and Target. Extraordinary earnings releases provide updated color on the health of the U.S. consumer.
3. Retail sales. Better than expected, but not helpful to the cause.

This week, our 3 Things are:

1. A cool CPI print. It is but one data point, but it suggests inflation is coming under control.
2. Avoiding recession. It’s not our base case, but two highly credible voices lay out how it could happen.
3. Debt ceiling. It’s back on the radar, and it’s the thing no one wants to talk about.

This week, our 3 Things are:

1. Powell-speak. We don’t think the message changed all that much, but markets struggled with it. We’ll reiterate our view.
2. Caterpillar’s earnings. Remarkable, and important context for investors.
3. Operating margins. It’s an important marker to track.

This week, our 3 Things are:

1. Peak pessimism. Are we there yet?
2. Housing. It’s all over the news again. Here’s what you need to know.
3. The New York Fed’s Underlying Inflation Gauge. It’s a CPI alternative. Is the Fed watching?

This week, our 3 Things are:

1. Insight from Allianz. A CEO worth paying attention to.
2. Recession contours. It’s coming, and it’s becoming clearer what these look like.
3. Bank of America’s look at U.S. consumers. It’s reassuring but not surprising that they continue to exhibit strength.

This week, our 3 Things are:

1. CEO outlooks. Two new surveys offer interesting insights into what we’re facing.
2. ISM Manufacturing PMI. What the latest reading says about inflation.
3. GM’s surge in auto sales. You heard that right. We’ll have a look.

This week, our 3 Things are:

1. Wealth effect. It’s real, and it’s been a big part of the consumer’s willingness to spend. Now, it’s falling.

2. The default cycle. We’ll dimension what this upcoming one looks like.

3. Volatility and financial stability.

This week, our 3 Things are:

This week, our 3 Things are:

1. The hot CPI print. We have an alternative narrative.
2. The U.S. consumer. Two heavyweights weigh in with differing takes. We’ll share our view.
3. Investor risk appetite. Fresh reads on where it’s headed.

This week, our 3 Things are:

1. Credit crunch. How real is it?

2. Growth slowdown. Tightening is starting to bite.

3. Corporate earnings. Estimates have to come down, but what is the risk to credit?