Revenues from Tariffs Spiked to $23 Billion in May, up by 168% in 3 Months by Wolf Richter • Jun 2, 2025 • 88 Comments It’s not nothing: At this pace, tariffs would raise receipts from corporate taxes by 39%, but would make only a dent into the huge US deficit.
S&P’s US Manufacturing PMI Shows “Solid” Growth Powered by Jump in Domestic New Orders. Canada & Mexico PMIs Tank by Wolf Richter • Jun 2, 2025 • 18 Comments But the ISM Manufacturing PMI for the US shows contraction on declining new orders. The contradicting PMIs add to the confusing “soft data.”
Office CMBS Delinquency Rate Re-Spikes to 10.6%, to Worst Levels of the Financial Crisis Meltdown by Wolf Richter • May 31, 2025 • 74 Comments It’s the older office towers that get in trouble amid a flight to quality.
How Financial Services, a Market Plunge in April, and a Historic Cliff-Dive by Recreation Services Messed with PCE Inflation Today. But a Snap-Back Cometh by Wolf Richter • May 30, 2025 • 55 Comments Outside of two heroes that pushed down the overall indices, there isn’t anything benign about this PCE inflation data.
US Government Interest Payments to Tax Receipts, Average Interest Rate on the Debt, and Debt-to-GDP Ratio in Q1 2025 by Wolf Richter • May 29, 2025 • 93 Comments Update on an ugly situation.
Pending Home Sales Plunge in All Regions, Inventories Surge. In the West & South, Collapsed Sales Meet Spiking Inventories by Wolf Richter • May 29, 2025 • 67 Comments Adios, “spring selling season.”
How the ECB’s Mark-to-Market of its Gold Holdings to €1 Trillion and €3.1 Trillion in QT Affect its Balance Sheet by Wolf Richter • May 28, 2025 • 46 Comments Under QT, the ECB shed €3.1 trillion in bonds and loans. Separately, it wrote up its gold assets by €409 billion, or by 68%, to reflect soaring gold prices.
Durable Goods Orders Made Ugly Headlines, but the 3-Month Average, which Irons Out Aircraft Orders, Rose to a Record by Wolf Richter • May 27, 2025 • 18 Comments And the backlog of unfilled orders remained at record high.
The 10 Big Cities with the Biggest Price Declines of Single-Family Homes from their Peaks through April: -7% to -21% by Wolf Richter • May 26, 2025 • 71 Comments Austin, Oakland, New Orleans, San Francisco, Washington D.C., Phoenix, Portland, Denver, Fort Worth, San Antonio.
30-Year & 20-Year Treasury Yields Back over 5%, 10-Year over 4.5%, Yield Curve Steepens at Long End, Mortgage Rates Back over 7% by Wolf Richter • May 24, 2025 • 149 Comments Will the bond market eventually wake up and scare the bejesus out of Congress? Is it already rubbing its eyes?
