April 11, 2023
United States:
US Small Businesses Face Worst Credit in a Decade After SVB
More US small businesses reported having greater difficulty getting a loan in March after multiple bank failures led to a further tightening of credit conditions.
A net 9% of owners who borrow frequently said financing was harder to get compared to three months earlier, the most since December 2012, according to a survey from the National Federation of Independent Business out Tuesday. The same share expects tougher credit conditions in the next three months, matching the highest level in a decade.
Europe:
Tumbling Money Supply Alarms Economists Who Foresaw Inflation
Britain’s money-supply economists, who emerged from obscurity in the pandemic by correctly anticipating sky-high inflation before anyone else, are sounding the alarm again.
Money supply growth is collapsing in the UK, eurozone and US, and they read that as a warning of recession and deflation. Central bankers have raised interest rates too far and, if the so-called monetarists are proved right again, they say there should be a “clear out” of officials.
Asia:
Buffett Ramps Up Japan Stock Bets, Weighs Buying Even More
Warren Buffett is turning his focus back to Japan, with the billionaire investor telling Nikkei that he’s mulling a boost to his stock investments in the country shortly after Berkshire Hathaway Inc. kicked off a yen bond sale.
Shares of Japan’s major trading houses jumped after Buffett said he has raised his holdings in them to 7.4% from about 5% in 2020 and is looking to increase his exposure to the country’s stocks, according to the Nikkei report.
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