Auto Loan Balances, Subprime, Delinquencies, and Income: Who Are those Drunken Sailors? by Wolf Richter • Feb 6, 2024 • 98 Comments Subprime doesn’t mean “low income.” It means “bad credit” – and some is high income. And subprime loans are coming home to roost.
US Office CRE Mess Is Spread Far and Wide across Investors & Banks Globally. US Banks Eat only a Portion of the Losses by Wolf Richter • Feb 5, 2024 • 93 Comments Japanese, Canadian, and European banks started to confess. And for over a year, huge losses have hit investors, not banks.
How the Housing Market Split in Two, Doubts about the Taming of Inflation, and What’s Going on with New & Used Vehicles by Wolf Richter • Feb 4, 2024 • 88 Comments Wolf Richter on “This Week in Money”
Eyepopping Factory Construction Boom in the US: Chip Makers on Forefront, but CHIPS Act Funds Not Even Released Yet by Wolf Richter • Feb 3, 2024 • 83 Comments Supply-chain chaos, edgy US-China relations, and scary dependence on China triggered a rethink, now showing up as investments in manufacturing plants.
Great to Have a Good Job Market with Surging Wages, but Rate-Cut Mania Takes a Hit. And We Fret about Inflation Reheating by Wolf Richter • Feb 2, 2024 • 163 Comments It’s not just the top 10% or whatever who got the wage increases.
Fed Balance Sheet QT: -$1.34 Trillion from Peak, to $7.63 Trillion, Lowest since March 2021 by Wolf Richter • Feb 1, 2024 • 94 Comments The Fed shed 33% of the Treasury securities it had added during pandemic QE and 24% of the MBS.
Despite Alphabet’s Layoffs at Google, Headcount Increased for Second Quarter in a Row. But the Huge Hiring Binge Is Over by Wolf Richter • Feb 1, 2024 • 47 Comments As Powell said, the labor market is rebalancing; it’s still tight, but it’s not out of whack anymore.
Here’s my Powell Cocktail, Not Quite in his Own Words by Wolf Richter • Jan 31, 2024 • 147 Comments It’s premature to think rate cuts are right around the corner, we haven’t decided anything yet, it’s meeting by meeting, but in March no way Jose, I mean, that’s not my base case.
Wow, Fed’s Statement Pushes Back against Rate-Cut Mania and End-of-QT Mania. Holds Rates at 5.50% Top of Range, QT to Continue as Planned by Wolf Richter • Jan 31, 2024 • 134 Comments Ok, so that push-back in the statement was unexpected.
The Most Splendid Housing Bubbles in America, January 2024 Update. Biggest Price Drops from 2022 Peak: San Francisco, Seattle, Portland, Denver, Las Vegas, even San Diego by Wolf Richter • Jan 30, 2024 • 150 Comments The 20-City Index dips off a beautiful double-top. Some metros saw new highs.