Bank of England Bought No Bonds Today, after Buying only £22 Million on Monday, instead of £5 Billion per Day by Wolf Richter • Oct 4, 2022 • 107 Comments Carefully communicating this isn’t a Pivot to QE but a temporary “backstop” to calm a panic. And it calmed the panic with minimal purchases.
UK Credit Market & Pension Panic, How Far Will the Fed Go, Upheaval in New Car & Truck Demand, Buyers’ Strike for Used Vehicles, and Housing Downturns in the US & Canada by Wolf Richter • Oct 1, 2022 • 100 Comments Wolf Richter on “This Week in Money.”
UK Bond Yields Do Monster Spike, Pound Plunges as Bond Vigilantes Rise from Graves, Go after Government’s Fiscal Recklessness by Wolf Richter • Sep 26, 2022 • 127 Comments Bank of England: won’t “hesitate” to hike rates “as much as needed.” Bond market fears much higher inflation and interest rates, for much longer.
The Most Splendid Housing Bubbles in Canada, September Update: House Prices Plunge by Wolf Richter • Sep 22, 2022 • 109 Comments The ridiculous price spikes now face Bank of Canada’s monster rate hikes, QT, and spiking mortgage rates.
To Halt Yen’s Plunge, Japan Gets Ready to Sell Foreign Exchange Reserves Instead of Hiking Interest Rates. Won’t Work for Long. Markets Can Win this Battle by Wolf Richter • Sep 14, 2022 • 102 Comments Rate hikes to keep up with the Fed would work. But the Bank of Japan still digs in its heels. Its balance sheet has shrunk for months though.
ECB Shocked, Shocked, to Find that Inflation Is Going on in Here, Hikes by 75 Basis Points, after 50-Basis-Point Hike in July by Wolf Richter • Sep 8, 2022 • 99 Comments Recklessly late, it hiked a lot faster than forecasters even imagined a few months ago: 125 basis points in two meetings and promising more.
Bank of Canada Hikes by 75 Basis Points, Brushes Off Housing Woes, Dip in CPI, Slowing Growth by Wolf Richter • Sep 7, 2022 • 63 Comments “Housing market is pulling back as anticipated, following unsustainable growth during the pandemic.”
Runaway Inflation in the Eurozone, which Kicked Off in mid-2021, Sets New Record, Wakes Up even Ridiculously Reckless ECB by Wolf Richter • Aug 31, 2022 • 197 Comments “Temporary” inflation is suddenly runaway inflation. But the negative-interest rate idiocy and QE are finally over.
QT at the Bank of Canada: Assets Down 24% from Peak. Spiraling Losses on Bonds, to Be Paid for by Canadians by Wolf Richter • Aug 28, 2022 • 140 Comments The BoC’s QT started much earlier and is way ahead of the Fed’s QT.
QT Kicks Off at the ECB: Assets Fell by €91 Billion from Peak by Wolf Richter • Aug 10, 2022 • 94 Comments Raging inflation ends an absurdity.
