Despite Banking Turmoil, ECB Accelerates QT plus Hikes by 25 Basis Points. Balance Sheet Plunged by €1.12 Trillion so Far by Wolf Richter • May 4, 2023 • 36 Comments “We’re not pausing, that’s very clear,” Lagarde said. “We know we have more ground to cover.”
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.
Status of US Dollar as Global Reserve Currency and Exchange Rates: Slow Long-Term Decline on Track by Wolf Richter • Apr 2, 2023 • 188 Comments But the Chinese Renminbi didn’t make any progress at all last year.
Total Wipeout of $17 billion in Credit Suisse AT1 CoCo Bonds Shocked Because No One Reads Clauses Anymore? by Wolf Richter • Mar 20, 2023 • 193 Comments We’re not even getting peanuts? EU regulators came out and said, no, no, no, that’s just in Switzerland, not in the EU.
Defying Pivot-Mongers, ECB Hikes by 50 Basis Points, QT Continues, Explains Tools to Calm a Bank Panic while Fighting Inflation Simultaneously by Wolf Richter • Mar 16, 2023 • 129 Comments A hugely important concept: “There is no trade-off between price stability and financial stability.”
ECB Balance Sheet Drops by €1 Trillion from Peak: QT Milestone by Wolf Richter • Mar 7, 2023 • 92 Comments Step 1 of QT is operating at full speed. Step 2 of QT is just starting.
The Most Splendid Housing Bubbles in Canada: February Update on the Housing Bust by Wolf Richter • Feb 16, 2023 • 114 Comments Hangover after a drunken party instigated by the Bank of Canada’s money-printing and interest-rate repression that turned buyers’ brains to mush.
SNB Cuts Holdings of All its Top 50 US Stocks in Q4: Apple Chopped by 8% since Q2. MSFT, GOOG, AMZN, TSLA, XOM, All by Wolf Richter • Feb 9, 2023 • 47 Comments Here is the list of the Swiss National Bank’s top 50 US stock holdings, and how much of each it dumped.
Back-to-Back Market Smackdowns Coming from the Fed and ECB. Could Be a Hoot by Wolf Richter • Jan 28, 2023 • 258 Comments Surly frustrated central bankers telling euphoric markets that the inflation fight is far from over.
Bank of England Sold All Bonds it Bought Last Fall amid Pension Crisis, First Big Central Bank to Sell Government Bonds Outright by Wolf Richter • Jan 12, 2023 • 110 Comments At first in baby steps, and then in big chunks. Remember the “pivot to QE” mongers at the time? What a hoot.
