Today's animal spirits is brought to you by our friends at Y-charts.

One of the things Y-charts does besides giving you the ability to search out different graphs and charts and data and information is they actually provide a bunch of visuals for you for advisors, especially.

So they have this 2023 Q1 e-con deck and they run this quarterly economic update every quarter, which would make sense.

We read a thread in quarterly and we called quarterly and they did it monthly a bunch of good charts in here on a talk about some.

First one, they have more, they have all these different charts on one page mortgage rates in originations. So it shows 30 year mortgage and then mortgage

originations and then refinancing as a share of this. And as you can see, as rates have gone up, mortgage originations have just gone in the toilet.

We're going to talk about this today for real estate today. Here's another good one. It's the SP 500 versus the 10 to treasury yield spread.

So this is just the difference between the 10 year treasury and the two year treasury.

And you can see here, anytime in the past, I don't know, 30 years when the yield curve is inverted, it's done.

So like a minuscule amount. This is a big one. It hasn't been this big since 1980, 1980, 1981.

I don't know how much the two year, the two years yielding 100 basis points more than 10 year or was.

Yes, which pretty close. It's pretty close. It's come back in a little bit, but it's, it's a huge, huge spread.

Anyway, there's a bunch of other good charts like this. If you want to want to check it out, go to our show notes. There'll be a link in there where you can download it.

Just give me your email. And if you want to sign up for Y charge, tell them animal spirits sent you you get 20% off that initial subscription.

Welcome to Animal Spirits, a show about markets, life and investing.

Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing and watching.

All opinions expressed by Michael and Ben are solely their own opinion and do not reflect the opinion of Redholtz Wealth Management.

This podcast is for informational purposes only and should not be relied upon for any investment decisions.

Clients of Redholtz Wealth Management may maintain positions in the securities discussed in this podcast.

Welcome to Animal Spirits with Michael and Ben. There's a new jingle in here. We got new new show tunes.

It's a new and improved animal spirits. We started this show in late 2017 and we might have told a little bit about this before, but it's good to go back.

We thought we were going to edit this show ourselves. There was podcasts around, but it was not that the tools weren't as much as we have today.

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