Government Sold $724 Billion of Treasuries this Week, Debt Hits $37.0 Trillion. Getting Ready for the Fed’s Shift to T-Bills

by Wolf Richter • Aug 8, 2025 • 75 Comments

10-year and 30-year yields rose after rough auctions, despite huge issuance of T-bills to take pressure off long-term yields.

Inventory of Homes for Sale Balloons in Texas and its Big Metros: Dallas-Fort Worth, Houston, Austin, San Antonio

by Wolf Richter • Aug 8, 2025 • 37 Comments

Amazing turn of events: From desperate “housing shortage” to massive inventory pile-up in four years.

Fed Balance Sheet QT: -$19 Billion in July, -$2.32 Trillion from Peak, to $6.64 Trillion

by Wolf Richter • Aug 7, 2025 • 41 Comments

The ratio of the Fed’s assets to GDP dropped to 21.9%, lowest since Q4 2019 and back where it had been in 2013.

What FOMO Really Means for Investors— When And Why It Hits You The Hardest

by Sponsored by TheTechnicalTraders.com • Aug 5, 2025

The market doesn’t reward emotional investors forever. It rewards those who have a plan before things move; who follow structure, not feelings; and who focus on protection first, opportunity second.

Used Car & Truck Wholesale Prices amid Solid Retail Demand and Tight Supply

by Wolf Richter • Aug 7, 2025 • 15 Comments

Another squiggle, down this time, in moderate inflationary pressures that started a Year Ago.

Days on the Market Blow Out in Florida’s Big Metros as Homes for Sale Don’t Sell and Pile Up

by Wolf Richter • Aug 7, 2025 • 109 Comments

Despite big waves of delistings.

Here Come the HELOCs: Mortgages, Housing-Debt-to-Income-Ratio, Serious Delinquencies, and Foreclosures in Q2 2025

by Wolf Richter • Aug 6, 2025 • 46 Comments

Taxpayers and investors are mostly on the hook this time, not banks.

Household Debts, Debt-to-Income Ratio, Serious Delinquencies, Collections, Foreclosures, Bankruptcies: Our Drunken Sailors’ Debts in Q2 2025

by Wolf Richter • Aug 5, 2025 • 109 Comments

The long-defaulted federal student loans come out of the shadows of government forbearance.

Construction Spending on Data Centers, Office Buildings, and Electric Power Installations

by Wolf Richter • Aug 4, 2025 • 87 Comments

Boom, bust, and the adults in the room.

Inventories of Homes for Sale Surge in Denver, Seattle, Phoenix, Tucson, Portland, Las Vegas, Salt Lake City, Albuquerque, Boise

by Wolf Richter • Aug 4, 2025 • 100 Comments

Lots of inventory, little demand: Median days on the market before homes got pulled or sold spiked to 70 days in Phoenix.

Tariff Cash Is Rolling In, Hits $28 Billion in July

by Wolf Richter • Aug 2, 2025 • 177 Comments

At this pace, tariffs will raise an additional $230 billion in corporate taxes a year. US nonfinancial corporate profits spiked to $3 trillion a year.

Slowing Supply of Immigrant Labor & Slowing Job Growth Keep the Job Market “in Balance” and the Unemployment Rate Low, Push Up Wages. Powell Talked about It

by Wolf Richter • Aug 1, 2025 • 138 Comments

The Fed’s dual mandate is “stable prices and maximum employment, not so much growth” in employment, he said at the press conference.

Homes for Sale in Big California Markets Pile Up, Days on the Market Spike to Highest in Years, despite Surge of Delistings, as Buyers Vanished

by Wolf Richter • Jul 31, 2025 • 53 Comments

Listings YoY: Orange County +50%, San Diego +44%, Los Angeles +38%, Riverside-San Bernadino +38%, Sacramento +37%, Fresno +33%, San Jose & Silicon Valley +29%; San Francisco metro +21%.

PCE Inflation Accelerates in Services and Goods. What Powell Is Waiting For

by Wolf Richter • Jul 31, 2025 • 91 Comments

Not everything rose. Prices fell for new vehicles, auto parts, auto accessories, and phones.

The Fed, Torn by Two Governor Dissents, Sticks to Wait-and-See, Keeps Rates at 4.25%-4.50%, Frets about Uncertainty

by Wolf Richter • Jul 30, 2025 • 115 Comments

“Uncertainty about the economy outlook” is back in full force in today’s statement, after it had “diminished” at the last meeting. QT continues.

Whacked Down by Plunging Inventories and Whacked Up by Plunging Imports, GDP Grows by 3.0%

by Wolf Richter • Jul 30, 2025 • 22 Comments

Consumer spending growth accelerated from low levels. Federal government spending drops for second quarter in a row.

Recklessly Ballooning US Government Debt Spikes by $519 Billion since Debt Ceiling, Expected to Hit $37.8 Trillion by Yearend. $722 Billion in Treasury Auctions this Week Alone

by Wolf Richter • Jul 29, 2025 • 108 Comments

A Mississippi River of debt issuance. But the Treasury buybacks are small.

About this Churn in the Job Market

by Wolf Richter • Jul 29, 2025 • 26 Comments

The epic red-hot turnover in the labor market in 2021 and 2022 that had reshuffled the entire work force is over.

Fed’s Rates Not Restrictive for Markets. Financial Conditions Ultra-Loose. Manias Form, Margin Debt Blows Out, Junk Bonds Party in La-La-Land

by Wolf Richter • Jul 27, 2025 • 170 Comments

There are exceptions: Parts of commercial real estate are in a depression, and the housing resale market has frozen.

Treasury Market Sees No Rate Cut by Sept., 30-Year Treasury Yield Near 5%: The Yield Curve and “Real” Mortgage Rates

by Wolf Richter • Jul 25, 2025 • 107 Comments

At the long end, the bond market is nervous.

Inventory of New Single-Family Homes Spikes to Highest since 2007; in the South, Shoots Past Housing Bust High. Sales and Prices Drop

by Wolf Richter • Jul 24, 2025 • 104 Comments

Homebuilders cut prices, bring on supply; profits plunge back to earth. Medicine this overpriced housing market needs.