Hartnett Wraps Up The First Half Of 2023 In 20 Fascinating Financial Facts

For the holiday weekend, in his latest weekly Flow Show note (available to pro subs) BofA CIO Michael Hartnett has taken a break from his traditional format and instead - in a note titled "BBQ Sauce" to commemorate America's favorite summer activity - has summarized some of the most remarkable, outrageous and interesting financial observations of the first half of 2023 in 20 bullets and a handful of charts.

Below, we summarize the highlights:

• 3.4%...US unemployment Apr’23 lowest since 1969 (all-time low 0.7% in April 1929);
• 20.8%...China's youth unemployment May'23 at record high;
• $2.1tn…US budget deficit past 12 months (8% of GDP) largest in 60 years outside of war or recession;