20-Year Treasury Yield Spikes to 5.13%. Yield Curve Gets Ready to Uninvert. Juicy Yields Tempt, but Bloodbath May Not Be Over by Wolf Richter • Oct 3, 2023 • 133 Comments “Fed hikes till something breaks.” But honey, the biggest thing has already broken: price stability. And the Fed is trying to fix it.
What, the Tech & Social Media Layoff Queens Are Hiring? Trends in Job Openings, Hires, Layoffs & Discharges, Voluntary Quits by Wolf Richter • Oct 3, 2023 • 54 Comments Still a tight labor market for many industries, but the massive churn slows.
Office CMBS Delinquency Rate Spikes to Nightmare Levels, Malls Have Been a Nightmare for Years by Wolf Richter • Oct 2, 2023 • 127 Comments Lodging is Bad, Multifamily hangs in there, Industrial remains unscathed.
EV Demand Not Sagging or Whatever: Rivian Deliveries +136% YoY, Tesla +27% YoY despite Factory Downtime for Upgrades by Wolf Richter • Oct 2, 2023 • 152 Comments And the “103 days’ supply of EVs” is BS because it doesn’t include Tesla, Rivian, and Polestar, with 65% of US EV sales.
THE WOLF STREET REPORT: Stocks, Bonds & CRE Face QT by Wolf Richter • Oct 1, 2023 • 140 Comments Fundamentals for markets have boiled down to QE or QT since 2009. Now there’s QT, a lot of QT, globally, to battle the worst inflation in decades.
Our Drunken Sailors Got Revised and Updated, but They’re Still Partying by Wolf Richter • Sep 29, 2023 • 92 Comments Income from all sources minus government transfer payments outruns inflation again.
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.
