Money-Market Funds & CDs: Americans and their Piles of Interest-Earning Cash

by Wolf Richter • Jun 13, 2025 • 25 Comments

After inflation, “real” yields on money-market funds are near 2%, and households kept pouring cash into them. But CDs lost ground.

Recession Watch: My Favorite Recession Indicator, Mid-June Update

by Wolf Richter • Jun 12, 2025 • 101 Comments

It says: “Not yet,” and “Quite a ways to go.” This trend has reversed before, but if it doesn’t and instead picks up momentum… Time to keep an eye on it.

Tariff-Inflation Watch: CPI Inflation in Light of the Tariffs

by Wolf Richter • Jun 11, 2025 • 114 Comments

No signs yet of tariffs getting passed through to consumers, neither in durable goods nor in clothing and footwear.

Inventory of Homes for Sale in the Biggest Florida Metros Piles Up to Highest in Years as Demand Has Withered

by Wolf Richter • Jun 10, 2025 • 61 Comments

Active Listings versus 2019: Tampa +40%, Orlando +42%, Jacksonville +25%, Cape Coral-Fort Myers +36%, North Port-Sarasota +36%, Lakeland +80%. Miami a little behind: +5%.

Despite Tesla’s Sales Drop, Total EV Penetration in the US Rises to Record 9.8%: BY Model & USA-Made Content

by Wolf Richter • Jun 10, 2025 • 40 Comments

Tariffs don’t apply to USA-made content. Some EVs are mostly made in the USA, others are mostly made in foreign countries.

Collapse of the Once High-Flying Solar Stocks: Another Bankruptcy among our 8 Imploded Solar Stocks

by Wolf Richter • Jun 9, 2025 • 56 Comments

The stock market’s solar craziness gets cleaned out stock by stock, even as solar-power generation continues to soar.

Inventory of Homes for Sale in Biggest California Markets Suddenly Piles Up to Highest in Years: Demand Has Collapsed

by Wolf Richter • Jun 6, 2025 • 167 Comments

Listings YoY: San Diego +66%, Los Angeles +47%, Orange County +79%, Riverside-San Bernadino +51%, San Jose & Silicon Valley +56%; San Francisco metro +40%, Sacramento +55%, Fresno +42%.

Excluding Federal Government Jobs, Payrolls Grow by 161,000 in May, Wages Jump, Despite All Moaning and Groaning

by Wolf Richter • Jun 6, 2025 • 34 Comments

Federal government jobs fell by 22,000, to the lowest share of total payrolls since… whenever.

Fed Balance Sheet QT: -$36 Billion in May, -$2.29 Trillion from Peak, to $6.67 Trillion, Lowest since April 2020.

by Wolf Richter • Jun 5, 2025 • 56 Comments

The Fed improves its Standing Repo Facility to prevent another repo market blowout as the balance sheet continues to drop.

Banks Getting Rid of Bad CRE Loans: Dutch Megabank ING Dumps One of the Largest Office Properties in San Francisco

by Wolf Richter • Jun 5, 2025 • 30 Comments

The two-tower property sold at a 75% discount. ING’s loss was much smaller. Investors took a bigger loss.

Demand in the Housing Market Just Got Even Worse, as Supply Piles Up

by Wolf Richter • Jun 4, 2025 • 147 Comments

Waiting for lower prices, higher incomes, and lower rates.

Hiring in the Private Sector Surges, Despite All Moaning & Groaning about the Economy or Whatever

by Wolf Richter • Jun 3, 2025 • 93 Comments

Layoffs & discharges as share of payrolls remain historically low: But the immense pandemic-era churn in the labor market has slowed.

Revenues from Tariffs Spiked to $23 Billion in May, up by 168% in 3 Months

by Wolf Richter • Jun 2, 2025 • 88 Comments

It’s not nothing: At this pace, tariffs would raise receipts from corporate taxes by 39%, but would make only a dent into the huge US deficit.

S&P’s US Manufacturing PMI Shows “Solid” Growth Powered by Jump in Domestic New Orders. Canada & Mexico PMIs Tank

by Wolf Richter • Jun 2, 2025 • 18 Comments

But the ISM Manufacturing PMI for the US shows contraction on declining new orders. The contradicting PMIs add to the confusing “soft data.”

Office CMBS Delinquency Rate Re-Spikes to 10.6%, to Worst Levels of the Financial Crisis Meltdown

by Wolf Richter • May 31, 2025 • 74 Comments

It’s the older office towers that get in trouble amid a flight to quality.

How Financial Services, a Market Plunge in April, and a Historic Cliff-Dive by Recreation Services Messed with PCE Inflation Today. But a Snap-Back Cometh

by Wolf Richter • May 30, 2025 • 55 Comments

Outside of two heroes that pushed down the overall indices, there isn’t anything benign about this PCE inflation data.

US Government Interest Payments to Tax Receipts, Average Interest Rate on the Debt, and Debt-to-GDP Ratio in Q1 2025

by Wolf Richter • May 29, 2025 • 93 Comments

Update on an ugly situation.

Pending Home Sales Plunge in All Regions, Inventories Surge. In the West & South, Collapsed Sales Meet Spiking Inventories

by Wolf Richter • May 29, 2025 • 67 Comments

Adios, “spring selling season.”

How the ECB’s Mark-to-Market of its Gold Holdings to €1 Trillion and €3.1 Trillion in QT Affect its Balance Sheet

by Wolf Richter • May 28, 2025 • 46 Comments

Under QT, the ECB shed €3.1 trillion in bonds and loans. Separately, it wrote up its gold assets by €409 billion, or by 68%, to reflect soaring gold prices.

Durable Goods Orders Made Ugly Headlines, but the 3-Month Average, which Irons Out Aircraft Orders, Rose to a Record

by Wolf Richter • May 27, 2025 • 18 Comments

And the backlog of unfilled orders remained at record high.