Retail prices of used cars & trucks spiked most since 1969 despite lower sales and plenty of supply. Wholesale prices, after biggest spike ever, are already falling.
Fed’s ETF holdings fell for second month, corporate bond holdings barely ticked up: This “$750 billion” SPV is over before it really got started. But the hype had been huge.
As after the last crisis, fueled by ultra-cheap money, they’re taking financialization of the housing market to the next level (transcript of my podcast).