BREAKING: Wells Fargo suspends new HELOC loans

This was seen on Twitter (Still trying to find the actual source)

As the consumer sees inflation eroding more and more of their savings, their (mortgaged) home is the last piggy bank left. The banks know soon it will be game over when home values start to correct harder.

Of course, stock markets may have considered this trend (see below) as positive.

https://tinyurl.com/2afkkrc8

2024 will be an year to remember for the consumer as inflation roars back. Fed’s hand will be forced. Moreover in an election year, nonetheless!

Smart folks have started selling or already sold all TLT positions. Let’s see if 4.21% on the 10-year is revisited.

GL