Amex Customers – Above-Average-Income Consumers – Are Spending like Drunken Sailors, incl. on Travel & Restaurants by Wolf Richter • Apr 21, 2023 • 153 Comments They’re the Big Spenders, they move the needle. Millennials and Gen Z-ers are now the drivers of this growth.
Short End of the Treasury Market Goes Totally Nuts. Doubts Creep in Over Debt Ceiling? by Wolf Richter • Apr 20, 2023 • 165 Comments The good folks in Congress are surely too worried about their own wealth, and sheer greed will keep them from pushing the US into default. But…
Housing Market Takes Another Step Back: Home Prices Drop Year-over-Year for Second Month. Already Dismal Sales Fell by Wolf Richter • Apr 20, 2023 • 130 Comments Investors lost interest too: Sales to all-cash buyers plunged 24% year-over-year.
But What If We Don’t Get a Recession in 2023? That Would Be a Bummer for Wall Street by Wolf Richter • Apr 19, 2023 • 229 Comments Just a slower-growth muddle-through economy that adjusts to higher rates and sticky inflation.
Second PE-Firm-Owned Subprime Auto Dealer & Lender Suddenly Shuts Down after its Subprime Auto-Loan Bonds Make a Huge Mess by Wolf Richter • Apr 18, 2023 • 127 Comments “Net losses and gross charge-offs were understated” – Oopsie?
Another CRE Giant, Brookfield again, Defaults on Floating-Rate Office Mortgage. Again, CMBS Get this Mess, Not Banks by Wolf Richter • Apr 18, 2023 • 66 Comments Maybe banks, instead of keeping the riskiest CRE loans, securitized them? Would be a hoot to find out over the next few years as this plays out.
The Surge in New Businesses Is One of the Big and Surprisingly Sticky Changes Coming out of the Pandemic Economy by Wolf Richter • Apr 17, 2023 • 91 Comments And yet, the Pandemic Money is long gone.
What Would Happen if the Fed Caves to 4%-5% Core PCE Inflation, Gives up on 2%, as some Folks are Clamoring For? by Wolf Richter • Apr 16, 2023 • 349 Comments The economy would muddle through, but in the markets, all heck would break loose. Here’s why.
The Most Splendid Housing Bubbles in Canada: Spring Selling Season in a Housing Bust by Wolf Richter • Apr 14, 2023 • 128 Comments Prices rose in March, but are down 17.5% year-over-year, the second-worst in the data. Sales -34% year-over-year.
Some Astonishing Trends in Retail Sales beyond the Month-to-Month Data Noise by Wolf Richter • Apr 14, 2023 • 100 Comments Introducing my new retail sales charts of three-month moving averages to iron out the big month-to-month spikes and drops that clutter up the trends.
