US Government Sold $602 Billion of Treasuries this Week, 10-Year Treasury Yield Bounces Back to 4.20%, 30-Year Yield to 4.86%, Highest since Sep 4, after Fed Cuts by Wolf Richter • Dec 12, 2025 • 49 Comments All of it to fund the ballooning debt that hit $38.4 Trillion. Shift to T-bill issuance has begun.
Layoffs Show No Signs of a Weakening Labor Market by Wolf Richter • Dec 11, 2025 • 39 Comments If the labor market is weakening, it’s on the job-creation side of the equation, maybe in part due to AI.
Why the Fed’s “Reserve Management Purchases” Are Not QE by Wolf Richter • Dec 11, 2025 • 51 Comments The Fed reverts to pre-2009 balance sheet management where the balance sheet grows with or less than the economy.
This Fed Meeting Must Have Been an Epic Circus by Wolf Richter • Dec 10, 2025 • 162 Comments Amid 3 dissenters in both directions, FOMC cuts by 25 basis points. “Dot Plot” sees 1 cut next year, 3 members see 1 hike. Reserve management purchases of T-bills begins.
CEO of ICE on Making Mortgages “Portable” & “Assumable” in the Era of MBS, and on AI at ICE and its Impact on Hiring by Wolf Richter • Dec 10, 2025 • 30 Comments “I look at our own behavior, which is we’re kind of slow walking some of that kind of hiring now because we’re using these tools.”
Job Openings Jump by 443,000 in 2 Months: Labor Market Retightens, Fed Faces Scenario of Solid Job Market and Accelerating Inflation by Wolf Richter • Dec 9, 2025 • 62 Comments 7.67 million job openings, highest since May, 2nd highest all year, and up from a year ago.
In Edgy Bond Market, 30-Year Treasury Yield Hits 3-Month High, 10-Year Yield Hits 1-Month High, Mortgage Rates Jump by Wolf Richter • Dec 8, 2025 • 79 Comments The expected rate cut gets complicated: A dovish Fed amid rising inflation can spook the bond market.
The Fed Will Talk a lot about “Reserve Balances” and “Reserve Management Purchases” at its FOMC Meetings by Wolf Richter • Dec 8, 2025 • 59 Comments What Are They? And why now?
NAR Says Typical First-Time Homebuyer Age Was 40 in 2025, up from 33 in 2021. But Is this Accurate? by Wolf Richter • Dec 5, 2025 • 65 Comments A narrative gets debunked. The affordability crisis remains.
Fed Balance Sheet QT: -$37 Billion in November, -$2.43 Trillion from Peak, to $6.54 Trillion by Wolf Richter • Dec 4, 2025 • 61 Comments Standing Repo Facility at zero, after doing its job calming the repo market at month-end. QT ended on December 1, but in November, QT continued.
