US Economy Wrap-Up
- The percent of US treasuries held by foreign entities declined fro m 33% in 2014 to 24% in 2023.
- “Manheim’s July preliminary used-car price index plunged to 213.1, down 11.1% from the full month of July 2022. The index is now at its lowest level since August 2021.”
- US industrial production declined 0.5% MoM and 0.4% YoY.
- Retail sales were up but just 0.2% MoM versus an expected 0.5%.
- A 30-story office tower in Baltimore was sold in June for $24 million, “a 63.6% discount versus the tower’s 2015 sale of $66 million.”
- The Federal Home Loan Bank extended over $1 trillion to banks in recent months.