PCE Inflation Index Revised Higher Going Back 2 Years. “Core Services” PCE Price Index Was Much Hotter by Wolf Richter • Sep 29, 2023 • 52 Comments Fed’s favored inflation measures get a big upward revision going back across this bout of inflation.
Another Recession Indicator Refuses to See a Recession: Corporate Profits without Federal Reserve Banks Hit Record by Wolf Richter • Sep 28, 2023 • 136 Comments Massively inflated during the pandemic, corporate profits are still not normalizing, and bode well for future investments and economic growth.
S&P 500 Equal Weight Index Dips into Red Year-to-Date. Shows Entire Market Depends on 8 Giants, but They’re Swooning Too by Wolf Richter • Sep 27, 2023 • 135 Comments QE giveth, QT taketh away. The two sucker rallies this year of the S&P 500 Equal Weight Index got wiped out.
The Most Splendid Housing Bubbles in America, September Update: Spring Bounce Fades. 20-City Index -0.6% from Peak in 2022, Flat Year-over-Year by Wolf Richter • Sep 26, 2023 • 153 Comments San Francisco -11% from peak, Seattle -10%, followed by Las Vegas, Phoenix, Portland, Denver, Dallas, San Diego, Los Angeles, Tampa.
Prices of New Houses Drop, Sales Drop, Supply Jumps by Wolf Richter • Sep 26, 2023 • 109 Comments Cut the price, and they will not come? Homebuilders, in a tough market, compete with homeowners who are still delusional.
It’s the Smart Money that Took a 77% Loss on Instacart, Not Retail Investors by Wolf Richter • Sep 25, 2023 • 115 Comments Instacart enters my pantheon of Imploded Stocks.
My “Wealth Disparity Monitor” of the Fed’s Money Printer Era, September 2023: Now There’s Inflation, QT, and Rate Hikes by Wolf Richter • Sep 24, 2023 • 216 Comments It’s just not the same anymore with QT and rate hikes. Household balance sheets by wealth category.
QE Giveth, QT Taketh Away: German Home Prices vs. ECB Balance Sheet by Wolf Richter • Sep 22, 2023 • 143 Comments The QT show started less than a year ago. German home prices -11%, ECB assets -19%.
Treasury Market Gets Memo with Subject Line: “Higher for Longer” but Someone Scribbled next to it, “Maybe Forever?” by Wolf Richter • Sep 21, 2023 • 167 Comments “Neutral rate” creeping higher? Oh dearie! Bloodbath at the long end.
Demand for Existing Homes Falters Further. Price Cuts, Days on Market, New Listings Rise. Prices Languish below 2022 Peak by Wolf Richter • Sep 21, 2023 • 194 Comments New listings rose in August, when they normally fall in August, an interesting break in the seasonal pattern.
