Economy Re-Accelerates in Q2. Our Drunken Sailors Splurge on Durable Goods, Investment Jumps, Federal Gov Undoes Blip by Wolf Richter • Jul 25, 2024 • 67 Comments Our Drunken Sailors are back at it, but in moderation, so to speak, their feathers largely unruffled by interest rates.
Magnificent 7 Got on Elevator to the Moon but Someone Pushed a Wrong Button: -$1.77 Trillion in 10 Days. Tesla Blows Fuse by Wolf Richter • Jul 24, 2024 • 136 Comments Nvidia is our double-WTF chart of the year, giving up $512 billion in 10 days.
New-House Prices Solidly below Existing House Prices as Inventory Piles Up. Sales Hobble Along, Supported by Big Incentives & Mortgage-Rate Buydowns by Wolf Richter • Jul 24, 2024 • 72 Comments Inventory of completed houses jumps to highest since 2009. This pile-up of spec houses is exactly what the housing market needs.
Here Comes the Inventory of Vacant Homes: With Buyers on Strike despite Lower Mortgage Rates, Supply Spikes to Highest in 4 Years. Sales Drop Further except at High End by Wolf Richter • Jul 23, 2024 • 151 Comments A game-changer is underway. Even the NAR concedes this “shift from a seller’s market to a buyer’s market.”
CRE Gets Strangled, Corporate Bankruptcies Highest since 2010, but Junk Bonds & Broad Financial Conditions in La-La-Land by Wolf Richter • Jul 22, 2024 • 89 Comments The big divergence.
Small Stocks Keeled Over after Brief Super-Hyped “Rotation” Spike. Magnificent 7 lost $1.3 trillion in Seven Days by Wolf Richter • Jul 20, 2024 • 104 Comments That $1.3 trillion just sort of came and went within a month, and people didn’t really notice – amazing.
Non-Tesla EV Sales +45% in Q2 YoY in California, Tesla -24%: People Have Had it with Musk’s Bullshit about California and San Francisco? by Wolf Richter • Jul 19, 2024 • 290 Comments Oh Elon, trying to wreck Tesla? Consumer boycotts work, see Bud Light. Don’t mess with American consumers!
The Foreign Investors Who Bought the Recklessly Ballooning US Debt: July Update by Wolf Richter • Jul 18, 2024 • 86 Comments Who is still buying the US debt is an increasingly important question. Here are the foreign investors.
Magnificent 7 Stocks Lose $1.1 Trillion in Five Days, and It’s Barely a Blip. Trillions Don’t Even Matter Anymore by Wolf Richter • Jul 17, 2024 • 111 Comments Nvidia, after gaining $2.1 trillion YTD through July 10, gave up $418 billion or 12.6% since. Meta -13.6% in 5 days. Tesla should be kicked out of the Mag 7.
Home Buyers Still on Strike even as Mortgage Rates Drop to Lowest since March. But Refis Jump to Highest since Aug 2022 by Wolf Richter • Jul 17, 2024 • 83 Comments A trend we watch: As refis rose from collapsed levels, the Fed’s QT of MBS increased for the fourth month in a row.
