Fed’s Balance Sheet Drops Below $7 Trillion. QT: -$53 Billion in Oct., -$1.97 Trillion from Peak, to $6.99 Trillion, Back to May 2020 by Wolf Richter • Nov 7, 2024 • 83 Comments Quantitative Tightening has shed 41% of the assets that the Fed had added during pandemic QE.
Fed Cuts by 25 Basis Points, to 4.75% Top of Range, as Telegraphed to Backpedal from Monster Cut. QT Continues by Wolf Richter • Nov 7, 2024 • 108 Comments “The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance.”
THANK YOU 💖 for Your Awesome Support of WOLF STREET!!! And if You Missed it, a Reminder: Please Donate by Wolf Richter • Nov 6, 2024 • 16 Comments Your support is what keeps Wolf Street open to all, not hidden behind a paywall, to reach the largest possible audience.
Longer-term Treasury Yields & Mortgage Rates Explode, Yield Curve Un-Inverts Further as Bond Market Gets Spooked by Wolf Richter • Nov 6, 2024 • 205 Comments Going to further crush demand for existing homes. Bondholders feel the pain.
Inventory of Existing Homes in Texas Balloons to Highest in Many Years, Prices Drift Lower but Are Still Way Too High by Wolf Richter • Nov 5, 2024 • 73 Comments Inventories are piling up because prices are too high. But they’re coming down.
Social Security Update Fiscal 2024: Trust Fund, Income, Outgo, and Deficit by Wolf Richter • Nov 4, 2024 • 114 Comments Contributions rose by 5.6%, but benefit payments rose by 8.5%. The Trust Fund paid for the deficit, so its balance declined further, to $2.6 trillion.
Office CMBS Delinquency Rate Spikes to 9.4%, Highest Since Worst Months after the Financial Crisis by Wolf Richter • Nov 4, 2024 • 98 Comments “Survive till 2025” is the motto in CRE now, but that might not work either.
Buffett T-bills & Chills: Piled up T-bills, Ditched Stocks, Bonds, and Share Buybacks in Q3 by Wolf Richter • Nov 2, 2024 • 102 Comments Oracle of Omaha will sit on lots of dry powder when the S hits the fan and there will finally be some stocks worth buying.
Fed’s ON RRPs Plunge to $155 Billion as QT Drains Liquidity, Nothing Blown Up Yet. SOFR & TGCR Spreads Begin to Move by Wolf Richter • Nov 1, 2024 • 62 Comments “Such temporary rate pressures can be price signals” that help markets redistribute liquidity to where it’s needed most: Fed’s Logan.
Hurricanes Helene & Milton and the Boeing Strike Make Mess of Jobs Report. And Wages Surge by Wolf Richter • Nov 1, 2024 • 30 Comments Upon the data’s implications for inflation, the bond market puckered its lips: 10-year Treasury yield jumped to 4.35%, highest since early July.
