Market Update for April 28, 2023 the last trading day of April.
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University of Michigan Index of Consumer Sentiment
Here is a graph of the University of Michigan Index of Consumer Sentiment for the last 50 years.
Graphs of State Street Investor Confidence Index vs the S&P 500, Nasdaq & Dow
Graph of State Street Investor Confidence Index vs the S&P 500
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Today Bed, Bath & Beyond announced Chapter 11 bankruptcy.
To Our Valued Customers:
Earlier today, Bed Bath & Beyond Inc. filed for voluntary Chapter 11 protection.
We appreciate that our customers have trusted us through the most important milestones in their lives – from going to college, to getting married, to settling into a new home, to having a baby – and we wanted to reach out to you to explain what this means.
Our stores are open and serving customers. However, we have initiated a process to wind down operations.
What This Means for Our Customers
We wanted to make you aware that several of our programs and policies may be changing soon. As of today:
• We expect to process returns and exchanges in accordance with our usual policies until May 24, 2023, for items purchased prior to April 23, 2023
• We expect Gift Cards, Gift Certificates, and Loyalty Certificates will be accepted through May 8, 2023
• We will no longer accept coupons or Welcome Rewards+ discounts beginning April 26, 2023
• We expect all in-stock orders placed online both prior and after our bankruptcy filing to be fulfilled at this time
Registry
Your registry data is safe. You can still view your registry at this time. We expect to partner with an alternative platform where you will be able to transfer your data and complete your registry. We will provide details in the coming days.
We Are Here for You
For Frequently Asked Questions (FAQs) and additional information, please visit
https://restructuring.ra.kroll.com/bbby. Stakeholders with questions can email
BBBYInfo@ra.kroll.com or call at (833) 570-5355 or (646) 440-4806 if calling from outside the U.S. or Canada.
Thank you for your loyalty and support.
Bed Bath & Beyond | buybuy BABY
I updated my revenue, spending & deficit table for the US Treasury with the latest numbers.
With requirements for "Estimated Tax Payments" to be paid four times a year, this is usually a very "lumpy" series thus I add calculations to show how these data change for the same period in the prior year. For example, April 2022 saw revenue increase by 96.6% as many tax payers paid their capital gains taxes on their fantastic 2021 gains. What I look for is trends such as the current trend of Treasury Revenue falling month-over-month for five consecutive months despite inflation of over 5% during that period. If we were to adjust the March 2023 reading by March's 5.0% inflation, "real revenue" collected by the Treasury fell by 5.6% which is hardly a healthy economy.
Selected excerpts from the Monthly Treasury Statement
Cumulative Receipts, Outlays, and Surplus/Deficit through Fiscal Year 2023
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📈🐂Market Update for Friday March 31, 2023🐻📉
The Dow, SPX, Nasdaq & Russell 2000 gained 0.4%, 7.0%, 16.8% and 2.3%, respectively.
Buffett's Berk/B fell 0.1%!
"This is interesting.When the S&P 500 gained >7% in Q1, the full year has never been lower.That is 16 out of 16 times the full year finished in the green, up 23.1% on avg."
"What does the data look like if you use 6.0% or even 6.5%. Perhaps a nit, but this data is really for returns of 8.0% or higher."
