Wolf Richter

Repo Market Brushfires Doused by Banks’ Use of the Fed’s Standing Repo Facility (SRF)

by Wolf Richter • Oct 20, 2025 • 5 Comments

The new & improved SRF begins to serve its purpose of allowing the Fed to push QT as far as possible without blowing anything up, unlike last time.

The 15 Bigger Cities with the Biggest Price Declines of Single-Family Homes (-10% to -24%) through September

by Wolf Richter • Oct 19, 2025 • 34 Comments

Oakland, Austin, Cape Coral, New Orleans, San Francisco, Birmingham, Fort Myers, Washington DC, Sarasota, Denver, Hayward, Portland, Phoenix, Naples, St. Petersburg.

AI-Powered Tricolor and its Mushroom Cloud of Fraud Allegations Are a Sign Greedy Lenders Closed their Eyes for Years, Not a Sign Consumers Are “Cracking” or Whatever

by Wolf Richter • Oct 17, 2025 • 57 Comments

American consumers are doing OK on their auto loans.

The Most Splendid Housing Bubbles in America: Price Drops & Gains in 33 Large Expensive Metros in September 2025

by Wolf Richter • Oct 16, 2025 • 60 Comments

Prices fell YoY in 22: Tampa, Austin, Miami, San Diego, Los Angeles, San Jose, San Francisco, Dallas, San Antonio, Houston, Phoenix, Orlando, Atlanta, Denver, Raleigh, Seattle… Rose in Chicago, Boston, New York, Philadelphia…

Stock Market Leverage Blows Out

by Wolf Richter • Oct 15, 2025 • 170 Comments

Everyone is talking about the AI bubble – proclaiming it or denying it – but this is what it looks like from the leverage point of view.

Home Buyers’ Strike Drags on Relentlessly, Despite Lower Mortgage Rates

by Wolf Richter • Oct 15, 2025 • 39 Comments

So mortgage rates are not the problem; they’re at the low end of the pre-QE historical range. Those exploded prices are.

Powell on the End of QT (“We’re Not so Far Away but There’s a Ways to Go”), Shifting Assets to T-Bills, and Selling MBS

by Wolf Richter • Oct 14, 2025 • 82 Comments

Bonus: His doomsday scenario if Congress forces the Fed to stop paying interest to banks on their reserve balances.

The Huge US Bond Market and the US Dollar Blow Off the “Debasement Trade”

by Wolf Richter • Oct 13, 2025 • 121 Comments

The bond market has taken the opposite bet, and the dollar has strengthened.

10-Year Treasury Yield Drops to One-Month Low on Trump’s China Threat, Bond Market Sees One Rate Cut this Year, Deficit-Funding Shifts to T-Bills

by Wolf Richter • Oct 11, 2025 • 53 Comments

Despite the big drop on Friday, the 10-year Treasury yield is higher than shortly before the September rate cut.

Is it Really Different this Time?

by Wolf Richter • Oct 10, 2025 • 190 Comments

AI is huge. But so is the mania of hype, hocus-pocus deals, and piles of real money fortified by leverage that caused stock prices to explode.

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