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But we saved everything 🙂.
Andrew Lokenauth reports that the U.S. personal savings rate has fallen to 2.6 percent, down from 5.5 percent a year ago.
He highlights that, over the past 60 years, savings rates have dipped this low only during the COVID pandemic in 2021 and just before the 2008 Great Recession. After savings reached their previous low in 2007, unemployment doubled and home prices fell.
Lokenauth previously observed U.S. Treasury yields reaching year-highs, with the 10-Year Note rising above 4.59% and the 30-Year Treasury hitting 5.12% earlier this year. He has also covered developments in the healthcare sector, including Eli Lilly’s release of gene therapy data for VERVE-102 targeting high cholesterol in a separate report. These reports offer snapshots of key financial and market activity during a period of fluctuating savings rates.