Bank of Japan’s Mind Game: Massive Bond Buys to Cap 10-Year Yield? Didn’t Happen. Bond Holdings Actually Fell. But it Worked by Wolf Richter • Apr 7, 2022 • 54 Comments Maybe the BoJ doesn’t want to totally crush the yen?
Mortgage Refinance Applications Are Collapsing. What’s the Impact on the Economy & Markets? by Wolf Richter • Apr 6, 2022 • 199 Comments Consumer spending and asset prices both were boosted by them.
Mortgage Rates Breach 5%, Two-Year & 10-Year Treasury Yields Spike after Fed Dove Brainard Explains How Inflation is Much Worse for Lower Income Households than CPI Shows by Wolf Richter • Apr 5, 2022 • 336 Comments “It is of paramount importance to get inflation down,” she said to get markets to prepare for what’s coming. And they’re preparing.
New Vehicle Sales Plunge as Chip Shortages, Production Cuts, Low Inventories Drag On. Back Where They’d Been in 1979 by Wolf Richter • Apr 4, 2022 • 134 Comments Toyota, whose sales plunged less than GM’s and Ford’s, was #1 in Q1.
After Having Blown $31 Billion on Share Buybacks to Prop Up its Shares, Starbucks Ends Them, to Invest in “Our People and Our Stores.” The New Old CEO Gets It. Shares Tank by Wolf Richter • Apr 4, 2022 • 106 Comments Great news, but not for the stock. Share buybacks gutted Starbucks. The SEC should again rule them illegal market manipulation, as it had until 1982.
My “Wealth Disparity Monitor” of the Fed’s Money-Printer Era: Holy Moly. April Update of the Greatest Economic Injustice in Recent History by Wolf Richter • Apr 3, 2022 • 322 Comments The wealthy got immensely wealthier. Everyone else paid for it via rampant inflation.
Update on US Dollar as Global Reserve Currency and the Impact of USD Exchange Rates & Inflation by Wolf Richter • Apr 2, 2022 • 199 Comments Dollar drops to lowest share in 26 years. Slowly but surely?
How the Massive Gains in Average Hourly Wages Look Ludicrous Compared to the Reality of Spiking Prices by Wolf Richter • Apr 1, 2022 • 175 Comments Rents, houses, used and new vehicles, gasoline, groceries, forget it, hahahaha
After Huge Spike in Prior Month, “Real” Spending by Americans Dips to Second Highest Ever. But Income Walloped by Inflation by Wolf Richter • Mar 31, 2022 • 172 Comments Spending shifts slowly back to services. But spending on goods still massively above trend, despite supply shortages.
Bond Massacre, Inflation Prick Biggest Bond Bubble in History by Wolf Richter • Mar 30, 2022 • 173 Comments The dollar’s role as dominant global reserve currency is at risk if the Fed fails to crack down on inflation (transcript from my podcast).
