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Increasing Loan Losses
The Market Bull 2019

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The Market Bull – April 16, 2019

The major averages finished with small gains. One of the more interesting trends of late is banks quietly increasing loan loss provisions despite a supposedly booming economy.

Treasury International Capital flows jumped 51.9 billion in February the best showing for the series in 6-months. Snapping a pair of declines as foreigners eagerly purchased Agency, Treasury and Corporate bonds, Equites or Stocks sold off hard for a 10th consecutive month falling 10.7 billion.

Industrial Production fell for a 2nd month in the last 3 with a .1% decline in March on weakness in motor vehicle production and mining. Capacity utilization slipped to 78.8%. Tariffs were once again cited as a major downside risk and with no solution at hand with the Chinese, and Trump threatening the Europeans with more tariffs, the risks seem to be growing.

The National Association of Home Builders or NAHB index gained a point to 63 in April. All regions advanced except the South; the West increased 3-points to 72. Traffic gained 3-points to 47 but remains negative.

Standard and Poors 500 Index closed at: 2,907.06 up 1.48
NASDAQ finished the day: 8,000.23 up 24.21
Gold ended trading at: $1,279.10 down $12.20


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