Japanese Stocks Plunge, Yen Rises from the Ashes as BOJ Hikes, Ends Free Money, and Starts QT by Wolf Richter • Aug 2, 2024 • 49 Comments Over the two days since the BOJ’s rate hike & QT kickoff, the Nikkei has plunged 8.2%.
Growth in Jobs Slows to 2017-2019 Pace, Unemployment Rate Rises as Massive Wave of Immigrants Is Absorbed More Slowly by Wolf Richter • Aug 2, 2024 • 131 Comments Wage growth slows to normal-ish rate.
Eyepopping Factory Construction Boom in the US Reaches New Highs amid Big Corporate & Strategic Rethink by Wolf Richter • Aug 1, 2024 • 70 Comments One of the big changes that came out of the chaos of the pandemic. And robots cost nearly the same anywhere.
Values of Old Office Towers Go to Near-Zero, but the Land Has Value: UBS Gets Off with Black Eye by Wolf Richter • Aug 1, 2024 • 85 Comments Huge loss on the building, small gain on the land in separate transactions.
How Powell Kept a September Rate Cut up in the Air: It Will All Depend on the Data till Then by Wolf Richter • Jul 31, 2024 • 93 Comments “We’re balancing the risk of going too soon versus too late. There’s no guarantee in this. It’s a very difficult judgment call.”
Fed Statement Silent about September Rate Cut, Still Waiting for “Greater Confidence” about Inflation, Keeps Rates Unchanged by Wolf Richter • Jul 31, 2024 • 115 Comments Powell has some explaining to do. Only slight concessions about strength of the labor market and improvements in inflation.
Bank of Japan Hikes by 25 Basis Points and Starts QT: Too Little Too Late but in Right Direction to Prop Up the Plunging Yen by Wolf Richter • Jul 31, 2024 • 26 Comments The “real” policy rate is massively negative, with the new policy rate of 0.25% far below Core CPI of 2.6%.
Magnificent 7 Down by $2.09 Trillion from Peak, then Microsoft Comes Out and Makes Further Mess Afterhours by Wolf Richter • Jul 30, 2024 • 86 Comments Nvidia -7% today, -23% since July 10. But afterhours, it rose when Microsoft outlined what it’s spending on AI infrastructure.
The Most Splendid Housing Bubbles in America, July 2024 Update. Below 2022 Peak: San Francisco, Seattle, Phoenix, Portland, Denver, Dallas, Las Vegas. New Highs: Miami, Los Angeles, San Diego… by Wolf Richter • Jul 30, 2024 • 103 Comments New Highs: Boston, New York, Miami, Tampa, Los Angeles, San Diego, Washington DC, and Chicago.
Without Share Buybacks, Subprime-Focused Retailer-Lender Conn’s Wouldn’t Have Had to File for Bankruptcy by Wolf Richter • Jul 29, 2024 • 70 Comments A basket case for years. Acquiring W.S. Badcock was another great idea; 7 months later, both are bankrupt and liquidating.
