Fed’s Favored Inflation Index, “Core PCE,” Stuck near 4.6% for Sixth Month, “Core Services” Stuck Near 38-Year High of 5.4% by Wolf Richter • Jun 30, 2023 • 130 Comments Month-to-month, durable goods prices rose again, on price spike of motor vehicles, after steep drops; services might be cooling a little. Energy plunged.
Waiting for the Promised Recession: Economic Growth even Stronger than Feared, Treasury Yields Spike by Wolf Richter • Jun 29, 2023 • 218 Comments The Fed has jacked up interest rates to over 5% to slow down this circus, and instead we’re getting accelerated growth.
Revenge of the Variable-Rate Commercial Debts by Wolf Richter • Jun 28, 2023 • 121 Comments Most people in finance today cut their teeth in the era of Easy Money, when history books were thrown out the window. But that era is over.
The Most Splendid Housing Bubbles in America, June Update: 2nd Overall YoY Price Drop since 2012. Biggest in Seattle, San Francisco, Las Vegas, Phoenix, San Diego, Portland, Dallas… by Wolf Richter • Jun 27, 2023 • 164 Comments It’s spring selling season, when prices always rise month-to-month, and they did, but it wasn’t enough.
As Prices of New Houses Drop, Sales Jump: Cut the Price and They Will Come. by Wolf Richter • Jun 27, 2023 • 134 Comments Price cuts & mortgage-rate buydowns pull sales from previously owned homes.
Longer-Term Treasury Yields to Rise amid Flood of Issuance while Fed, Foreign Buyers, US Banks Unload. Short-Term Yields already Surged by Wolf Richter • Jun 26, 2023 • 179 Comments What the Fed wanted to accomplish. But the bond market hasn’t been playing along and “is too complacent” about the coming onslaught.
THE WOLF STREET REPORT: Revenge of Variable-Rate Commercial Debts by Wolf Richter • Jun 24, 2023 • 160 Comments Most people in finance today cut their teeth in the era of Easy Money, when history books were thrown out the window.
Core CPI in Japan Worst since 1981. Food Inflation Worst since 1976. But Energy Prices Plunge by Wolf Richter • Jun 23, 2023 • 86 Comments BOJ’s Ueda promises to fuel inflation further, hopes for wage growth. Strategy: let raging inflation bring Japan’s debt-to-GDP ratio back in line.
How Can a Company Lose $3.3 Billion on $402 Million in Sales? Cannabis Companies Show How as Shares Get Wiped Out by Wolf Richter • Jun 22, 2023 • 131 Comments It just never ends with these hype-and-hoopla stocks. And when one wave finally dies, there’s something new. This stuff is just hilarious.
Home Prices Drop Year-over-Year by Most since 2011, as Investors Pull Back, amid Dismal Sales and Rising Supply by Wolf Richter • Jun 22, 2023 • 206 Comments June (next month’s data) will be the final leg of spring selling season. Then things skid downhill till early 2024.
