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Readers. Phil Rosen. As you might guess about writers, I love to read.
I’ve collected hundreds of books over the years, and stacks of paperbacks line the walls of my room. I got it from a small part of the book.
This is the Pareto Principle, more commonly known as the 80-20 rule. Approximately 80% of impacts come from 20% of causes.
Ideas pop up everywhere when you start looking. His 20% of office carpet is used 80% of the time. A small number of employees often make up the bulk of a company’s revenue.
The stock market also saw a more extreme distribution.only 20 people Caused 90% of the S&P 500’s gains first three months of the year.
Now that we have the water cooler facts for the day, let’s move on to the news.
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A branch of First Citizens Bank in Raleigh, North Carolina. First Citizens Bank has acquired Silicon Valley Bank.
Melissa Sue Geritz/Getty Images
1. Americans are already feeling the effects of the credit crunch. The Federal Reserve (Fed) has warned of a tightening of credit terms since several bank failures last month, but policymakers have spoken as if it were a future event.
a New Survey by New York Fed Economists It paints a more immediate picture.
A growing number of US households feel their access to credit has deteriorated, according to some respondents Renewed all-time high in March.
“Respondents More pessimistic about future credit availability There is also a rising share of households who expect it will be harder to get credit a year from now,” the economist said.
Remember that the so-called credit crisis meant lenders raised their standards for borrowers, and people had to meet tougher conditions to get a loan.
In this study, the perceptual probability is fail to meet minimum debt payments It rose from 0.3% to 10.9% over the next three months.
But even before Silicon Valley Bank collapsed, Securing credit is already harder than last yeargiven that the central bank has raised interest rates nine times in a row.
By the fourth quarter of 2022 (before the banking turmoil hits), nearly 45% of banks will already be in corporate get a commercial loanfound another Fed investigation.
“credit crisis begansaid Torsten Slok, chief economist at Apollo Global Management. said after receiving the report.
Ultimately, borrowing hurts the economy as a whole It will only make the chances of a recession worse.And now, according to billionaire hedge fund owners Paul Singerthe United States is facing “a very dangerous and turbulent time.”
“Valuations are still very high,” he said. “There is a fair chance of a recession. low returns on real estate, corporate profits, higher unemployment than now, and a lot of inflation in the next round. “
Are you feeling the effects of this month’s tightening of credit conditions?@philrosenn) or email (prosen@insider.com)Please notify me.
In other news:
Traders work on the trading floor at the market opening at the New York Stock Exchange in Manhattan.
thomson Reuters
2. US stock futures rose early Tuesday, Investors are gearing up for Wednesday’s update of the CPI and the next day’s producer price pressures. Bitcoin, meanwhile, has crossed $30,000 for the first time since June 2022. Click here for the latest market trends.
3. On the docket: Albertsons Companies, JD Sports and more, all report.
4. Goldman Sachs lists 29 stocks that beat Wall Street consensus earnings estimates. Investors can look to these names for profit growth this year, according to bank analysts. Here is their complete list.
5. Housing is very affordable and banks lose money on every mortgage they finance for the first time. In 2022, mortgage lenders lost an average of $301 per mortgage. What are the causes of negative profit? Weak housing demand.
6. These 12 charts show how tough the economy is right now. Bank of America’s top strategist shared a series of visualizations showing the recession in everything from manufacturing activity to global earnings. see for yourself.
7. Russia’s economy is becoming increasingly “primitive,” says a Russian economist whom Moscow has targeted in a criminal case. For Konstantin Sonin, Putin’s war against Ukraine would push the country down the same thorny path as the regime decades ago: “I think we are seriously trying to retrace the path of the Soviet Union from the 1970s to the complete economic collapse of the late 1980s.”
8. These four real estate investors bought the property with no savings of their own. They shared how they raised capital and got started.
9. RBC recommended this batch of high-conviction stocks that we believe are poised to deliver above-market returns. Strategists say they will see a rise in these global names regardless of market volatility. Check out our list of 30 stocks.
market insider
10. Nintendo’s stock price soared after the “Super Mario Bros. Movie” broke box office records. Following the film’s $377 million in sales this weekend, JP Morgan said it expects the Mario movie to surpass Frozen II in gross revenue — This means more than $1.45 billion.
Curated by Phil Rosen of New York. Feedback or tips?Tweet @philrosenn or email prosen@insider.com.
Edited by Jason Ma and Hallam Block in Los Angeles (@hallam_bullock) in London.