Fed Balance Sheet QT: -$1.1 Trillion from Peak, to $7.87 Trillion, Lowest since May 2021. by Wolf Richter • Nov 2, 2023 • 85 Comments Fed shed 26.5% of Treasuries it had added during pandemic QE.
Anything Unusual in the Drop of the 10-year Treasury Yield? Despite the Hype & Hoopla, it Hasn’t Done Anything Special by Wolf Richter • Nov 2, 2023 • 88 Comments Volatility. Powell mentioned it too. The 10-year yield is hugely volatile, and the drop over the past few days fits right in. Have a look.
“We’ll Probably Still Be Left with Ground to Cover to Get Back to Full Price Stability”: Powell at the FOMC Press Conference by Wolf Richter • Nov 1, 2023 • 157 Comments “The best thing we can do for the US is to fully restore price stability, and not fail in that task, and do it as quickly as possible, but also with the least damage we can.”
Tsunami of Treasury Issuance Will Shift from Longer-Term Debt to Short-Term T-Bills & 2-Year Notes amid Intense Navel-Gazing about Spiking 10-Year Yield. by Wolf Richter • Nov 1, 2023 • 59 Comments The Spiking 10-Year Treasury Yields Apparently Rattled the Government’s Nerves.
Another “Hawkish Hold” with Tightening Bias: Fed Keeps Rates at 5.50% Top of Range, Rate Hike Still on the Table. QT Continues by Wolf Richter • Nov 1, 2023 • 109 Comments Higher for how much longer? “The extent of additional policy firming that may be appropriate….”
The Most Splendid Housing Bubbles in America, October Update: 10 of the 20 Metros Down from their Peaks Last Year, 6 Metros Set New Highs by Wolf Richter • Oct 31, 2023 • 207 Comments From 2022 peaks: San Francisco -11%, Seattle -10%, Las Vegas -6%, Phoenix -6%, Portland -5%, then Denver, Dallas, San Diego, Los Angeles, Tampa.
Marketable US Treasury Debt to Explode by $2.85 Trillion in the 10 Months from End of Debt Ceiling to March 31, 2024 by Wolf Richter • Oct 30, 2023 • 159 Comments Including $1.56 trillion in Q4 2023 & Q1 2024. Government has gone nuts.
How High Could Long-Term Treasury Yields & Mortgage Rates Go? Why’s there No “Housing Crash?” Consumers Finally Ready to Cut Spending? Tesla Mucks Up GM’s & Ford’s EV Strategy by Wolf Richter • Oct 30, 2023 • 125 Comments Wolf Richter in an interview about these and other hot-button topics.
Fed’s QE Giveth, Fed’s QT Taketh Away: Russell 2000 Hits 3-Year Low, Nasdaq Back to Dec 2020, S&P 500 Back to Apr 2021 by Wolf Richter • Oct 28, 2023 • 241 Comments Since QT started, stocks have been on their own, after having been babied by the Fed since 2008. And it’s not working out.
Powell’s Gonna Have a Cow When He Sees the PCE Inflation in “Core Services,” Housing, and Non-Housing Core Services by Wolf Richter • Oct 27, 2023 • 218 Comments Hitting all his hot buttons today with the month-to-month PCE price index.
