When Fed Doves Get Hawkish… Balance Sheet Runoff Should Start at End of Taper, First Half 2022: Bullard

by Wolf Richter • Sep 28, 2021 • 47 Comments

“Inflation could be a lot more persistent than we had hoped.”

Red-Hot Rents to Fire Up CPI Inflation Just When “Temporary” Is Supposed to Unwind It

by Wolf Richter • Sep 27, 2021 • 120 Comments

Asking rents spiked 10%-25% in half the cities. Rents fell in only a few, incl. -25% in San Francisco from 2019 peak.

Suppliers in China for Apple, Tesla, Intel, Nvidia, Qualcomm, NXP, Infineon, ASE Forced to Halt Production amid Energy Crackdown

by Wolf Richter • Sep 26, 2021 • 195 Comments

The Everything Shortage keeps promising to keep getting worse.

Top 10 Share-Buyback Queens – Big Tech except Intel, Big Banks except Wells Fargo, Buffett – Incinerate Most Cash Ever in Q2. The Rest Lags

by Wolf Richter • Sep 25, 2021 • 134 Comments

Funded by Debt: Since 2012, share buybacks totaled $5.5 trillion, corporate debt soared by $4.7 trillion.

Unfinished Houses for Sale Pile Up, Total Inventory Highest since 2008, amid Material Shortages & Worst Spike in Construction Costs since 1979

by Wolf Richter • Sep 24, 2021 • 251 Comments

Sales of new single-family houses fall 24% from a year ago. The lower end has died.

10-Year Yield Jumps to 1.43% as Bond Market Reacts to what the Fed Said Yesterday about Tapering, Rate Hikes, and Inflation

by Wolf Richter • Sep 23, 2021 • 162 Comments

The Fed is getting nervous about inflation. “Temporary” doesn’t cut it anymore. And the bond market is getting a whiff of it.

As Overnight Reverse Repos Spike to Record $1.28 Trillion, Fed Doubles Per-Counterparty Limit, Keeps Adding Counterparties

by Wolf Richter • Sep 22, 2021 • 146 Comments

This mega-liquidity suck has mopped up cash amounting to 10 months of QE.

Home Sales Fall from Year Ago, Prices Down for 2nd Month, Price Reductions Jump: This “Deceleration” Despite Massively Negative Real Mortgage Rates

by Wolf Richter • Sep 22, 2021 • 188 Comments

But now the Fed is planning to end QE.

China’s Crackdown on Debt, Tech & Evergrande Sends Frazzled Wall Street Titans to China

by Wolf Richter • Sep 21, 2021 • 146 Comments

The property sector and its debts are possibly the biggest financial mess in China’s history (transcript of my podcast).

THE WOLF STREET REPORT: China’s Crackdown on Debt, Tech & Evergrande Sends Frazzled Wall Street Titans to China

by Wolf Richter • Sep 19, 2021 • 237 Comments

The property sector and its debts are possibly the biggest financial mess in China’s history.

World Runs Out of Weirdest Stuff: The WOLF STREET Beer Mug Shortage

by Wolf Richter • Sep 18, 2021 • 160 Comments

“Nothing Goes to Heck in a Straight Line,” except supply chains.

A Mess: Retail Inventory Shortages in Charts, Just in Time for Holiday Selling Season

by Wolf Richter • Sep 17, 2021 • 100 Comments

Stimulus-fueled blow-off demand spike meets messed-up supply and transportation chaos.

What Comes After Mind-Blowing Free-Money Blow-Off Spike in Retail Sales? A Spike Doesn’t Spike Forever

by Wolf Richter • Sep 16, 2021 • 140 Comments

Powered by price increases.

What a Collapse of China’s Evergrande Would Mean

by Wolf Richter • Sep 15, 2021 • 260 Comments

China hasn’t bailed out its over-indebted property developers yet, to the shock of foreign investors who’d bought their dollar bonds. Could the forced deleveraging trigger a financial crisis?

Business Travel, Conventions, Office Occupancy Stuck in Collapse: Been so Long, People Forgot What Old Normal Was

by Wolf Richter • Sep 15, 2021 • 82 Comments

Hotel business travel revenues expected to be down by 80% at top 20 destinations in 2021.

Social Security COLA for 2022 to be Near 5.8%, Could Match 2009, Biggest since 1982

by Wolf Richter • Sep 14, 2021 • 137 Comments

But it still won’t cover the dollar’s actual loss of purchasing power.

Inflation Whac-A-Mole: New Vehicle Prices Spike as Used Vehicle Prices Dip, while Housing Inflation, which Exploded in Reality, Barely Budged in the CPI

by Wolf Richter • Sep 14, 2021 • 86 Comments

CPI inflation remains at 12-year high.

Proposed EV Tax Credits = Braindead Economic Policy +Last Thing the Booming EV Industry & EV-Hungry Consumers Need

by Wolf Richter • Sep 13, 2021 • 159 Comments

Everyone loves more free money. But EVs can stand on their own four wheels, so to speak. Let competition force innovation on automakers.

Americans Expect their Earnings to Get Whacked by Red-Hot Inflation, Blow Off Fed’s Sermons about “Temporary”

by Wolf Richter • Sep 13, 2021 • 170 Comments

And those who experienced the 1970s & 1980s inflation as adults expect 6.0% inflation a year from now.

THE WOLF STREET REPORT: What a Collapse of China’s Evergrande Would Mean

by Wolf Richter • Sep 12, 2021 • 162 Comments

China hasn’t bailed out its over-indebted property developers yet, to the shock of foreign investors who’d bought their dollar bonds. Could the forced deleveraging trigger a financial crisis?