Auto Loans, the Burden of Auto Loans, Subprime Lending, and Delinquencies in Q2 by Wolf Richter • Aug 8, 2024 • 94 Comments Delinquency rates unchanged, more buyers paid cash to dodge interest rates, prime is pristine, subprime (14% of originations) is (always) in trouble.
PE Firm Blackstone’s Epic Pump-n-Dump with Bumble now down to just a Mop-up Operation: Shares -94% since IPO Pop by Wolf Richter • Aug 8, 2024 • 70 Comments Blackstone made over $2 billion (as the public got wiped out), taking advantage of Consensual Hallucination.
Here Come the HELOCs: Mortgages, the Burden of Mortgage Debt, Delinquencies, and Foreclosures in Q2 by Wolf Richter • Aug 7, 2024 • 75 Comments Delinquencies mostly edged down. Foreclosures form a frying pan pattern.
Used Car & Truck Prices Suddenly Bounce, Inventories Tighten: End of Historic Plunge that Pushed CPI Inflation Down? by Wolf Richter • Aug 7, 2024 • 65 Comments That would be a bummer for CPI Inflation over the coming months.
Household Debt, Delinquencies, Collections, and Bankruptcies: Our Drunken Sailors and their Debts in Q2 by Wolf Richter • Aug 6, 2024 • 96 Comments Total debt rose over the years as a larger population financed more costly collateral. But income rose too.
Fed’s ON RRPs Plunge to $292 Billion, -$2 Trillion from Peak, on the Way to Near-Zero, and Nothing Has Blown Up Yet by Wolf Richter • Aug 6, 2024 • 62 Comments QT keeps draining liquidity from the financial markets.
Despite the Recession-Emergency-Rate-Cut Buffoonery, the Services Sector Expands Strongly on Growth in New Orders & Employment. Inflation Pressures Still On by Wolf Richter • Aug 5, 2024 • 95 Comments What a bummer. Services are two-thirds of the economy; as long as they’re firm, the economy will plug along just fine, even as manufacturing stalled.
US Stocks Open into Mess but Whiff of Panic Fades after Japan Crashed 12% Today, 20% since BOJ Ended Free Money by Wolf Richter • Aug 5, 2024 • 121 Comments This week starts out somewhat ugly. AI-hype-driven rally is losing hot air.
Berkshire Dumped Nearly Half its Apple Shares plus Other Stocks into Final Burst of Rally, Bought T-Bills. Cash is King by Wolf Richter • Aug 4, 2024 • 163 Comments “You could conclude this is another sell signal. This was a far higher level of selling activity than we were expecting.”
Stocks Swoon amid Rate-Cut Hopes after they’d Soared amid Rate-Cut Hopes? Whatever. Mag 7 -$2.26 Trillion from Peak, Semis Crushed, Nasdaq Bloodied by Wolf Richter • Aug 2, 2024 • 223 Comments Fed or no Fed, people suddenly notice fundamentals again, a scary thing at this altitude.
