Home Prices in the Largest Countries of Europe in Q1 2026, from Splendid Housing Bubbles to a Market that’s Back to 2010

by Wolf Richter • Jul 6, 2026 • 12 Comments

Prices for Germany, France, Italy, Spain, Netherlands, Poland, Belgium, Sweden, Ireland, Austria, Norway, Denmark, Romania, Czechia, Finland, Portugal, Slovakia, Hungary, Bulgaria.

My Take on the Zero-Sum New-Vehicle Market in the US: Decades of Stagnation & Decline Interrupted by Steep Plunges

by Wolf Richter • Jul 6, 2026 • 58 Comments

But not all automakers are losers in this tough market.

Six-Month Treasury Yield Rises to 4%: Bond Market Tells the Fed to Get on with the Rate Hikes

by Wolf Richter • Jul 4, 2026 • 83 Comments

Even banks are raising the yields on their brokered CDs to 4% and over. The coming rate hikes are getting real for investors.

QT instead of Rate Hikes to Put a Floor under Plunging Yen: Bank of Japan Sheds 15.6% of its Massive Assets

by Wolf Richter • Jul 3, 2026 • 25 Comments

Late to the QT game, it’s even selling its equity holdings outright. Nothing on its balance sheet is sacred.

Labor Market Tightens despite Tepid Job Growth as Labor Force Declines further amid Crackdown on Illegal Immigration

by Wolf Richter • Jul 2, 2026 • 28 Comments

A highly unusual labor market for the US, marked by a shrinking supply of labor.

Tesla’s Deliveries Spike 25% in Q2, despite End of Federal EV Incentives, as Gasoline Prices Soared. Shares Plunge

by Wolf Richter • Jul 2, 2026 • 20 Comments

But forget the Model S and X, and the Cybertruck.

Unwinding the “Lock-in Effect” Suddenly Stalls as Homeowners Stopped Paying Off Below-3% Mortgages

by Wolf Richter • Jul 1, 2026 • 68 Comments

Those ultra-low mortgages wrecked the housing market, but homeowners had nevertheless been paying them off steadily – until now.

Yen Craters to 4-Decade Low, JGB Yields at 3-Decade Highs: Monetary Policy Mess Comes Home to Roost

by Wolf Richter • Jul 1, 2026 • 27 Comments

The collapse of a currency is nothing to be trifled with. But the BOJ’s pussyfooted rate hikes & QT are too little too late.

Inflation & Nominal Economic Growth to the Rescue: The US Government’s Ugly Fiscal Mess

by Wolf Richter • Jun 30, 2026 • 84 Comments

US Government interest payments, tax receipts, tariffs, average interest rate on the debt, and Debt-to-GDP ratio in Q1 2026.

Inflation in “Core Services” Surges, plus AI’s Impact on Electricity & Goods: Inflation beyond Gasoline

by Wolf Richter • Jun 25, 2026 • 61 Comments

The 6-Month “core services” PCE price index jumped 4.2% annualized, pushed the 6-month core PCE to 4.1%, worst since June 2023.

Out Hiking in Europe. Shop (Partially) Closed through June

by Wolf Richter • Jun 20, 2026 • 74 Comments

I’ll have sporadic access to the internet and will read the comments; if I turn into a night owl, I might write an article.

US Government Sold $518 Billion of Treasury Securities this Week. 6-Month to 2-Year Treasury Yields Spike on Warsh’s “Regime Change” at the Fed

by Wolf Richter • Jun 19, 2026 • 42 Comments

The 1-year Treasury yield spiked by 16 basis points, to 4.0%, highest since July, three rate cuts ago, as the bond market now expects multiple rate hikes.

Era of “Powell Was Dovish” Is Over: Warsh’s Five Taskforces

by Wolf Richter • Jun 18, 2026 • 67 Comments

I have to say the FOMC press conference was a breath of fresh air.

“Regime Change” at the Fed: Fed Chair Warsh Makes the First Moves

by Wolf Richter • Jun 17, 2026 • 119 Comments

Everything is up for review. “There’s a taskforce for that,” he said. Dot plot, possibly the last one, turns hawkish.

The Most Splendid Housing Bubbles in America: Price Drops & Gains in 33 Big Expensive Cities, May 2026

by Wolf Richter • Jun 16, 2026 • 35 Comments

Home prices fell from peaks in prior years in 28 of the 33 cities, led by Austin -27% and Oakland -26%, while AI mania in San Francisco trickled down from “mansion shortage” to mid-tier.

Government Uses Strategic Petroleum Reserve as Cudgel to Beat Down Oil-Price Mania: Worked for Second Time

by Wolf Richter • Jun 15, 2026 • 63 Comments

A new role for the SPR. It wasn’t designed for that.

US Government Sold $646 billion of Treasury Securities this Week. 2nd Wave of Inflation Approaches 10-Year Treasury Yield

by Wolf Richter • Jun 13, 2026 • 54 Comments

How the long-term Treasury debt grows: Treasury notes & bonds outstanding rose on net by $59 billion this week.

Money-Market Funds & CDs: Americans and their Piles of Interest-Earning Cash as “Real” Yields Turn Negative

by Wolf Richter • Jun 12, 2026 • 63 Comments

Inflation surged past these yields, though they’ve started to rise again. Households nevertheless poured more money into them.

What Homebuilder Lennar Said about the Tough Housing Market: Average Sales Price Down 24% from Peak, back to 2017

by Wolf Richter • Jun 11, 2026 • 79 Comments

Cut the price, and they will buy. Dealing with the affordability crisis. Sales volume is up, but shares have plunged by nearly 50%.

Producer Price Inflation beyond Energy: 6-Month Services PPI, “Core” Goods PPI & “Core” PPI Blow by 6%, Worst since 2022

by Wolf Richter • Jun 11, 2026 • 32 Comments

The surge in energy costs is bad, but there’s a lot of inflation from other sources.