The Long View of Job Growth by Industry: Some Gained Jobs; at Others, Jobs Got Crushed by Wolf Richter • Jul 7, 2023 • 70 Comments To shed some additional light on the jobs report.
Landing Still Cancelled: Labor Market Cruises through Updrafts and Air Pockets by Wolf Richter • Jul 7, 2023 • 131 Comments But all the breathless layoff-hype in the media scared workers and tamped down on wage growth.
Fed’s Balance Sheet Drops $667 Billion fr. Peak to $8.3 Trillion, Below Aug 2021, as QT Continues, Bank Panic Support Unwinds by Wolf Richter • Jul 6, 2023 • 145 Comments The Fed has now shed 20.5% of Treasury securities it had bought during pandemic QE.
Americans Still in No Mood for Recession: New Vehicle Sales Jump 17.5% in Q2 YoY as Inventories Normalize after Shortages by Wolf Richter • Jul 6, 2023 • 88 Comments Incentives jump but still below normal. Average Transaction Price and Average Listing Price stuck at ridiculous levels.
ECB Balance Sheet Plunged by €1.6 Trillion (-18%) from Peak. Bond Roll-Off Speeds Up by Wolf Richter • Jul 5, 2023 • 85 Comments Spooked by relentlessly raging inflation in services, ECB puts QT into higher gear.
CRE Nightmare for CMBS Holders: Office Mortgage Delinquency Rate Has Biggest Six-Month Spike Ever. It’s just the Beginning by Wolf Richter • Jul 5, 2023 • 133 Comments And it’s structural. Variable-rate CRE mortgages and much higher rates just speed up the process.
End of Easy Money: Unicorn Bubble Implodes, Normalcy Returns by Wolf Richter • Jul 4, 2023 • 100 Comments AI hype & hoopla replaces crypto, blockchain, and FinTech hype & hoopla. You’ve got to go with the times.
Construction Spending on US Manufacturing Plants Soars, to De-Globalize Supply Chains? by Wolf Richter • Jul 3, 2023 • 188 Comments The driver: computer, electronic, and electrical manufacturing.
US National Debt Spiked by $851 billion in One Month, to $32.3 Trillion. Flood of New Debt Coming in Q3 to Refill the TGA, Pay for Raging Deficits by Wolf Richter • Jul 2, 2023 • 152 Comments While, for the first time, the Fed’s QT and refilling the government’s checking account (TGA) pull liquidity from the markets simultaneously.
Our Drunken Sailors Are in No Mood to Give Up Spending, and They Can Afford it by Wolf Richter • Jun 30, 2023 • 289 Comments Personal income solidly outpaces inflation.
