Why the MBS Roll-off from Fed’s Balance Sheet Will Speed Up by Wolf Richter • Feb 8, 2023 • 146 Comments It was half the maximum pace. But rising home sales and, lo-and-behold, rising mortgage refis are about to change that.
US Trade Deficit 2022: Imports, Exports of Goods and Services, by Product Category and Country by Wolf Richter • Feb 8, 2023 • 141 Comments Ugliest-ever trade deficit. But US exports grew to $2 trillion, 10% was crude oil & petroleum products. Pharma & industrial machinery exports were #3 and #4.
Used-Vehicle Auction Prices Rise Again on Strong Retail Sales, after 2022 Plunge. Buyers’ Strike Over? “Core” Inflation at Risk by Wolf Richter • Feb 7, 2023 • 104 Comments These price increases “were not typical” for January: Manheim auction house.
After Spiking 92% Today, 350% in a Month, Bed Bath & Beyond Stock Collapses Afterhours on Share Offering That’ll Dilute the Bejesus out of the Meme-Stock Crowd by Wolf Richter • Feb 6, 2023 • 105 Comments Revenues collapsed. Bankruptcy filing hangs over it. This is a money-suck. But hey, it incinerated $11.6 billion on share buybacks.
Delayed Reaction? 2-Year & 10-Year Treasury Yields Jump, Mortgage Rates Spike 40 Basis Points in Two Days to 6.39% by Wolf Richter • Feb 6, 2023 • 101 Comments Last week sinks in, and WHOOSH go yields.
Cut the Price by 20% and They Will Come: Homebuilder Meritage Explains New Era after Sales Orders Collapse by 46% by Wolf Richter • Feb 5, 2023 • 154 Comments Cutting construction costs by “aggressively rebidding” projects, and “walking away” from land deals: executives in their own words.
Remember the Hullaballoo in December about “BLS ‘Overstated’ Jobs Growth by 1.1 million: Philadelphia Fed?” Oh Boy, Results Are In by Wolf Richter • Feb 4, 2023 • 84 Comments This is how the internet works. Someone comes up with a meme, and it takes on a life of its own. I’m going to have some fun with it.
Employment of “People with a Disability” Spiked to Record in Hot Labor Market. Applications for Disability Benefits Fell to 20-Year Low by Wolf Richter • Feb 3, 2023 • 42 Comments They added 1.6 million more workers to the labor force, even as the overall labor force has not been able to recover to pre-pandemic trend.
In “Information” Sector, Unemployment Rate Spikes, Jobs Fall for 2nd Month. Rest of Labor Market is Rocking & Rolling. by Wolf Richter • Feb 3, 2023 • 62 Comments Plenty of fuel for inflation. Powell is not going to like this.
Fed’s Balance Sheet Drops by $532 Billion from Peak, Cumulative Loss Reaches $27 billion: February Update on QT by Wolf Richter • Feb 2, 2023 • 140 Comments QT is starting to make a visible dent.
