“There is no justification” for continuing the purchases of mortgage-backed securities. The Fed is “misdiagnosing its impact on the housing market.” Pressure rises on the Fed to back off, in face of market craziness.
And five SPVs expired, including the one that bought corporate bonds and bond ETFs.
“It’s really something to see Wall Streeters with a long history of treating our economy as a casino complain about a message board of posters also treating the market as a casino”: AOC
$157 Billion in Debt. A reckoning of sorts. “Asset impairments and abandonments,” AT&T calls it.
In a world where valuations are irrelevant.
“Physical occupancy” rate (tenants living in the apartment) v. “economic occupancy” rate (tenants actually paying rent).
Seems, inflation prospects jangled some nerves today.
During the Financial Crisis, consumers deleveraged by walking away from their debts. And now, with 20 million people still claiming unemployment insurance?
Consumers cut back on applying for credit cards, and the Fed is not amused.