The Monday Mix: April 3 – 9, 2023
Top-of-mind economic news as we start the week:
— The US economy added 236,000 jobs in March, the lowest level since Dec. 2020, a sign of still-strong but slowing job creation.
— US bank lending dropped by $105 billion in the 2nd half of March, the most on record, with pullback on all types of loans, especially at smaller banks.
— US commercial real estate prices are down 15% from a year ago, led by office properties, per the Green Street index.
— March’s banking turmoil gave short sellers their biggest profits since the 2008 financial crisis: $7 billion
— The European Central Bank (ECB) reported a 18% drop in carbon missions 2018-2022 by companies in the ECB’s bond portfolio, per climate disclosures.
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