"We always turn over all of our earnings in every year, and we've turned over something like $1.2 trillion dollars just in the last decade or so."
– Jay Powell, to @RepBlaine

Oh, remittances are a distant memory. There won't be remittances for years.

I call shenanigans. pic.twitter.com/gCExPDkle8

— John P. Hussman, Ph.D. (@hussmanjp) March 8, 2023

#ECB balance sheet drops by another €8.6bn to €7,830.8bn in the past week, the lowest level since Jun2021 as QT continues. Total assets now equal to 59% of Eurozone's GDP vs Fed's 32%, SNB's 113% and BoJ's 132%. pic.twitter.com/fFAZEKbAiR

— Holger Zschaepitz (@Schuldensuehner) March 8, 2023

From the day after the Feb 1 Fed policy meeting to the day after Chair Powell's Senate testimony:
2-year yield has surged over 100 bps
2s-10s curve inversion has deepened to a level not seen since 1981; and
Disinflation narrative replaced by being "very far from price stability"

— Mohamed A. El-Erian (@elerianm) March 8, 2023

#China's #CPI grew 1% y/y in Feb, vs previous 2.1% gain, expected 1.8% gain.

China's #PPI fell 1.4% y/y in Feb, vs previous 0.8% drop, expected 1.3% fall. pic.twitter.com/wwKL0cnOoh

— YUAN TALKS (@YuanTalks) March 9, 2023

January payrolls, unemployment rate, CPI, all that "hot" data did nothing to change longer-run breakevens nor did they decompress swap spreads. No matter the short-term changes in data or economy, markets are adamant how this is going to end. The Fed just doesn't factor as always pic.twitter.com/Q2i2mhHYHG

— Jeffrey P. Snider (@JeffSnider_AIP) March 9, 2023

Long-run evidence of money growth and inflation. ECB. Benati. pic.twitter.com/L00nmVbIDQ

— Daniel Lacalle (@dlacalle_IA) March 9, 2023