Long View of the S&P 500 & Stock Markets of Canada, Japan, China, Hong Kong, India, UK, France, Germany, Italy, Spain by Wolf Richter • Dec 31, 2025 • 57 Comments American hot money piling into some foreign markets produced gigantic gains in 2025 (Spain +49%).
Asking Rents in 33 Bigger Cities: Where they Spike, Rise more Slowly, or Fall. US Rents for Single-Family Homes Surge, Pull Further away from Multifamily by Wolf Richter • Dec 30, 2025 • 51 Comments Rents spiked in San Francisco, Chicago, NY City, Rochester, Kansas City… rose more slowly in others… fell in Austin, Denver, San Antonio, Phoenix…
IPO Bloodletting after “Pop” in 2025: Venture Global, CoreWeave, Figma, Klarna, Bullish, Circle Internet, Navan, Firefly, Fermi… by Wolf Richter • Dec 29, 2025 • 51 Comments Of the largest 20 IPOs, 14 trade below their IPO price; only 6 trade above it. Many plunged from their post-IPO pop.
Status of the US Dollar as Global Reserve Currency: USD Share Drops to Lowest since 1994 by Wolf Richter • Dec 26, 2025 • 153 Comments Central Banks diversify their holdings into dozens of smaller “non-traditional reserve currencies.”
US Government Interest Payments to Tax Receipts, Average Interest Rate on the Debt, and Debt-to-GDP Ratio in Q3 2025 by Wolf Richter • Dec 24, 2025 • 101 Comments Update on a slightly less ugly situation.
WHOOSH, Went the Economy in Q3. The Fed Needs to Watch Out, Economy Is Running Hot by Wolf Richter • Dec 23, 2025 • 123 Comments Strong consumer spending growth (despite Sour Mood), big improvement of trade deficit, and government spending growth after two quarters of declines.
Carry Trade at Risk: Japan’s 10-Year JGB Yield Hits 25-Year High, Yield Curve Steepens, Finance Ministry Verbally Props Up Yen by Wolf Richter • Dec 22, 2025 • 49 Comments Ridiculously-behind Bank of Japan is trying to deal with a huge multi-decade monetary mess without crashing global markets.
Oh Deary, Condo Prices Already Dropped by 12% to 30% in these 28 Bigger Markets by Wolf Richter • Dec 20, 2025 • 55 Comments Across the US, after a mindboggling Condo Bubble, from Manhattan (-19%) to Oakland (-29%), from Cape Coral (-30%) to Seattle (-14%).
Single-Family Home Prices Barely up YoY, Condo Prices Fall, Highest Supply for Nov in Years, Sales at Housing Bust Levels by Wolf Richter • Dec 19, 2025 • 95 Comments The beginning of the 4th year of demand destruction in the resale market after the price explosion from mid-2020 to mid-2022.
Today’s Doctored CPI Inflation Release is like a Bad Joke, but Very Serious (though it Suits the Administration’s Narrative) by Wolf Richter • Dec 18, 2025 • 280 Comments No CPI data for October, partially made-up CPI data for November, and now 3 months’ of doctored OER data which weighs 26% of overall CPI.
