Home Prices in the Largest Countries of Europe: Splendid Housing Bubbles in Some, Prices back to 2010 in Others by Wolf Richter • Jan 10, 2026 • 49 Comments Germany, France, Italy, Spain, Netherlands, Poland, Belgium, Sweden, Ireland, Austria, Norway, Denmark, Romania, Czech Republic, Finland, Portugal, Hungary, Bulgaria.
Job Growth in the Private-Sector, Massive Job Losses at Federal & State Governments in H2 2025 by Wolf Richter • Jan 9, 2026 • 62 Comments The Fed should look at private-sector employment. Layoffs at the government are a political decision, not the result of economic weakness.
Fed Balance Sheet Drops by $67 Billion for the Week by Wolf Richter • Jan 8, 2026 • 45 Comments Standing Repo Facility -$75 billion to zero, Reserve Management Purchases +$8 billion: The year-end liquidity shifts have settled down.
Trade Deficit Drops to Least Terrible Level since 2009, upon which Atlanta Fed GDPNow Doubles Q4 GDP Forecast to +5.4% by Wolf Richter • Jan 8, 2026 • 37 Comments The GDPNow algo is to be taken with a teaspoon of salt, but it shows that a big improvement of the trade deficit pushes up GDP growth.
ADP Employment Report: +41,000, Mostly at Medium-Size Companies. Small Companies Had First Payroll Gain in 5 Months by Wolf Richter • Jan 7, 2026 • 22 Comments Private-sector job growth slowed to a crawl in the second half.
Ugly Charts of US Auto Sales, 2025: Stellantis, Nissan Flirt with Catastrophe. GM, Ford, Honda Sales Rise but far below Peaks. Toyota & Hyundai-Kia Set Records by Wolf Richter • Jan 6, 2026 • 135 Comments New-vehicle sales in 2025 rise barely above 1986: Four decades of structural stagnation, plunges, and partial recoveries.
Bank of Japan’s QT Cuts $502 billion from Balance Sheet. JGB Yields Surge as BOJ Steps away from Bond Market by Wolf Richter • Jan 6, 2026 • 22 Comments Japanese Government Bond 10-year yield rose to 20-year high of 2.13%, 30-year yield hit 3.50%.
Fed’s Standing Repo Facility (SRF) Drops to Zero, from $75 billion on the Last Balance Sheet as Yearend Liquidity Turmoil Dissolves by Wolf Richter • Jan 5, 2026 • 26 Comments The Fed’s weekly balance sheet on Thursday will show a substantial drop in total assets.
“Locked-in” Homeowners Nevertheless Pay Off Below-4% Mortgages: their Share Drops to Lowest since Q4 2020 by Wolf Richter • Jan 3, 2026 • 109 Comments Slowly unwinding a phenomenon that wrecked the housing market.
Year-End Liquidity Turmoil on Fed’s Balance Sheet. Plus $38 Billion in T-bills Replace $15 Billion in MBS, Add $23 Billion in RMPs by Wolf Richter • Jan 2, 2026 • 35 Comments Standing Repo Facility spiked to $75 billion for a day, then fell back; ON RRPs spiked to $106 billion, then fell back.
