Are the elephants coming home to roost?
Roosting elephants? Almost as mental as thinking the market might go down, right?
That's what I had mentioned on Friday in this piece.
Just a quick update to the numbers on this one...
Today's Initial Jobless Claims came in at +261k.
Ignore the May print.
There was a revision there which means today's print is the highest in 19 months!
Now what's also pretty shitty looking is how commercial real estate loan origination has been stagnant for a while now, and commercial and industrial