When Fed Doves Turn Hawkish, it Gets Real: Fed Dove Bullard Gets Antsy about Inflation, Pulls Rate Hike into 2022, Sees Quicker Tapering with MBS amid “Threatening Housing Bubble” by Wolf Richter • Jun 18, 2021 • 225 Comments “So far so good. But we have to be nimble here, these are big numbers.”
Holy Moly, Fed’s Reverse Repos Spike to $756 Billion, Undoing 6 Months of QE. In Opposite Direction, Fed’s QE Pushes Assets Past $8 Trillion by Wolf Richter • Jun 17, 2021 • 163 Comments Yesterday, the Fed raised its interest rate on overnight reverse repos, and this morning, a giant sucking sound of cash.
EV SPAC Lordstown Shows Why this Market Needs Short Sellers More than Ever; They’re the Only Sheriff Left in Crazy Town by Wolf Richter • Jun 17, 2021 • 86 Comments Lordstown now says it has “No Binding Orders” after saying it had “Binding Orders,” after admitting it had “No Binding Orders,” after hyping its binding orders for months. Sheesh.
Fed “Had Discussion” on Tapering, Pulls Rate Hikes Closer, Raises Interest Rates on Reserves (IOER) & on Overnight Reverse Repos by Wolf Richter • Jun 16, 2021 • 149 Comments With inflation hotter than it expected, the Fed is trying to slow the pace at which it’s falling further behind.
A Glimpse at Hidden Stock Market Leverage of “Securities-Based Lending,” as Known Stock Market Leverage Spikes to WTF High by Wolf Richter • Jun 16, 2021 • 96 Comments We don’t know how much total leverage there is, but from the trends in margin debt, we know it’s huge and ballooning.
Despite Massive Price Increases, Retail Sales Drop: Buyers’ Strike & Fading Stimmies Dent the WTF Spike by Wolf Richter • Jun 15, 2021 • 157 Comments Americans are having to pay more to get less.
Average Age of Cars & Trucks on the Road Jumps to Record: The Circular Problem for Automakers by Wolf Richter • Jun 14, 2021 • 175 Comments How do you sell more new vehicles when they last longer every year? You don’t! Over two decades of stagnation in vehicle sales interrupted by plunges.
Third Publicly Traded Mall REIT Files for Bankruptcy in Eight Months: Washington Prime Group, the Simon Property Spinoff by Wolf Richter • Jun 14, 2021 • 87 Comments The brick-and-mortar meltdown for mall landlord started years before the Pandemic. For WPG, it started in 2016.
“Tesla only sold ~10%” of its Bitcoin Holdings: Musk Speaks, Bitcoin Moves. But it Takes Two to Tango by Wolf Richter • Jun 13, 2021 • 152 Comments Pump and dump just for the heck of it? Why can’t this dude just shut up? That’s what people, including the SEC, want to know.
Subprime Auto-Loan Delinquencies, Which Had Exploded, Plunged after Stimmies. These Folks Are Now on Buyers’ Strike by Wolf Richter • Jun 12, 2021 • 136 Comments Investors in subprime auto-loan Asset Backed Securities should be genuflecting in front of US taxpayers to thank them for the backdoor bailout.
