Despite Fed Tightening and Bank Collapses, It’s Still an Astoundingly Loose Financial Situation in La-La-Land by Wolf Richter • May 13, 2023 • 207 Comments After years of money printing and pandemic stimulus, it’s hard to wring all this liquidity out of the financial system?
Fast QT, Fewer Rate Hikes? Bank of Canada Has Shed Nearly Half of Pandemic QE Assets. And QT Continues Despite “Pause” in Rate Hikes by Wolf Richter • May 12, 2023 • 124 Comments It unwound 46% of all assets it had added during the pandemic. Far more aggressive QT than the Fed’s.
EVs Made the First Visible Dent into Gasoline Consumption by Wolf Richter • May 11, 2023 • 277 Comments Gasoline sales have already been stagnating for years, interrupted by big drops in demand.
The Fed’s Interest Rates Are still Fueling Inflation rather than Dousing it, and People Getting Used to this Inflation by Wolf Richter • May 11, 2023 • 222 Comments Turned upside-down since late 2008 with QE and interest rate repression, it still hasn’t been turned right-side up.
Core CPI Stuck at 5.5%-5.7% Range for Fifth Month, Now Higher than Overall CPI, as Used Car Prices Suddenly Spike Again by Wolf Richter • May 10, 2023 • 127 Comments Inflation Whac A Mole. Housing Inflation may be peaking at 8%+, but rents re-accelerated.
What Are Older Office Towers Worth? Here’s the First Sale in San Francisco’s New Era of Office CRE by Wolf Richter • May 9, 2023 • 116 Comments Union Bank made a deal to sell its tower at 75% off original listing price, setting the first new benchmark. Other towers waiting in the wings.
Why I’m Skeptical of Powell’s Claim Red-Hot Rent CPI Will Just Vanish: Landlords Report the Opposite, even for April by Wolf Richter • May 8, 2023 • 298 Comments High demand by renters of choice trying to outwait the housing turmoil pushes up actual rents in a range of 6% to 8%.
Dear Readers, Please Donate to WOLF STREET: Spring 2023 Reminder by Wolf Richter • May 7, 2023 • 55 Comments Your support is crucial to keeping the site free and open to all. Thank you!!
Utter Chaos at the Short End of the Treasury Market and at the 28-Day Treasury Bill Auction: A Deep Dive by Wolf Richter • May 6, 2023 • 153 Comments Investors exacting their pound of flesh for the risk of a default “as early as” June 1.
The Landing Has Been Cancelled. Labor Market is Flying at High-ish Cruising Altitude by Wolf Richter • May 5, 2023 • 244 Comments Even employment in Information has been rising for months despite layoff announcements, after a dip last year. Month-to-month wage growth re-accelerated.
