Surging Inflation No Problem, Junk Bond Yields Drop to Record Low, Dish out Negative “Real” Yields to Fed-Whacked Investors by Wolf Richter • Jun 11, 2021 • 273 Comments The market is broken. “Raging mania” rules.
Cash Gone Nuts: Treasury General Account Drops to $674 Billion, as Fed’s Reverse Repo Cash-Drain Hits $534 Billion by Wolf Richter • Jun 10, 2021 • 93 Comments A massive source of liquidity is approaching peter-out moment.
It Gets Ugly: Dollar’s Purchasing Power Plunged at Fastest Pace since 1982. It’s “Permanent” not “Temporary,” Won’t Bounce Back by Wolf Richter • Jun 10, 2021 • 314 Comments But it’s a lot worse than it appears.
EVs Hit 8% Share in California’s Declining New-Vehicle Market: Shaking Up Legacy Automakers by Wolf Richter • Jun 9, 2021 • 180 Comments Tesla Model Y Blows doors off US bestseller Ford F-Series. But Tesla lost share within EV space against the giants it woke up.
Fed’s Reverse Repos Hit $503 Billion. Liquidity Drain Undoing over 4 Months of QE by Wolf Richter • Jun 9, 2021 • 144 Comments New York Fed’s Williams prepares markets for “technical adjustments” to the Fed’s “administered interest rates” to get a handle on this phenomenon.
Will Americans, Who’ve Spurned Cheaper Cars for Decades, Buy a Lower-Priced Baby “Truck?” I Don’t Know Either by Wolf Richter • Jun 8, 2021 • 202 Comments Americans love big expensive equipment. And cheap cars have fizzled. Ford, which threw in the towel on its cheapest cars, is trying again.
Job Openings Spike in WTF Style amid “Labor Shortages” while 15 Million People Claim Unemployment Benefits by Wolf Richter • Jun 8, 2021 • 171 Comments This messed-up labor market is finally producing rising wages. But companies are able to pass them on with higher prices: beginnings of an inflation spiral.
The Countries with the Most Monstrous Business Debts: US in 22nd Place Despite Massive Spike During the Pandemic by Wolf Richter • Jun 7, 2021 • 106 Comments China and the tax havens rule!
The WTF Spike of Used-Vehicle Prices Continues Unabated. So Which Part Is “Temporary?” by Wolf Richter • Jun 7, 2021 • 161 Comments This would normally have triggered a Buyers’ Strike, but the Inflationary Mindset has changed.
Oh Lordy, Yellen Comes Out for Higher Interest Rates: “A Plus for Society’s Point of View and the Fed’s Point of View” by Wolf Richter • Jun 6, 2021 • 291 Comments “We want them to go back to” a normal interest rate environment.
